D A more progressive tax would tax lower income people at a higher rate. O True False Question 12 John's income is $89,000. With a flat tax of 28%, what is his marginal rate? O 26% O 33% O 28% O The average tax rate he pays across his entire income Both the 3rd and 4th answer above are equal to the marginal tax rate in this case Question 13 Disadvantages to bank financing include O extremely complex deals, relative to other options O inflexible loan terms O less negotiating power regarding interest rates O None of the above All of the above