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A coworker reviewing this report exclaimed, This report says that taxes went up over 32% this year and are expected to rise over 43% next

A coworker reviewing this report exclaimed, "This report says that taxes went up over 32% this year and are expected to rise over 43% next year. How can that be true?" Explain to them what the percentages they are referencing from the report represent. What is the effective tax rate for each year, as shown on the Tax provision line of the report?

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