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Current Attempt in Progress Crane Electrical Company's financial statements indicated that the company had earnings before interest and taxes of $791,000.00. The interest rate on
Current Attempt in Progress Crane Electrical Company's financial statements indicated that the company had earnings before interest and taxes of $791,000.00. The interest rate on its $755,000.00 debt was 8.95 percent. Calculate the taxes the company is likely to owe if its tax rate is a flat 30%. What are the marginal and average tax rates for this company? (Round total taxes payable to 2 decimal places, e.g. 15.25 and other answers to 0 decimal places, e.g. 17\%.) Total taxes payable $ Marginal tax rate % Average tax rate % eTextbook and Media Assistance Used
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