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Assuming at the $50,000 income level that the corporate tax rate increases from 15 to 25%, which of the following statements is correct for a
Assuming at the $50,000 income level that the corporate tax rate increases from 15 to 25%, which of the following statements is correct for a firm with $75,000 of taxable income?
a.) Its marginal tax rate is 15%.
b.) Its average tax rate is 25%.
c.) Its average tax rate is 18.33%.
d.) Its marginal tax rate is 18.33%.
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