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Coastal Corporation estimates its income, by calendar quarter, as follows for 2018: 1st2nd3rd4th2018 QuarterQuarterQuarterQuarterTotal Est.Income$30,000$40,000$35,000$40,000$150,000 Income tax rates applicable to CoastalCorporation: From: $ 0 to$50,00015%
Coastal Corporation estimates its income, by calendar quarter, as follows for 2018:
1st2nd3rd4th2018
QuarterQuarterQuarterQuarterTotal
Est.Income$30,000$40,000$35,000$40,000$150,000
Income tax rates applicable to CoastalCorporation:
From: $ 0 to$50,00015%
From: $50,001 to$75,00025%
Over:$75,00035%
Required:
Determine Coatal Corporation's estimated effective tax rate.
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