Determine the effective (average) tax rate and also the marginal tax rate if the corporate taxable income is $70,000. Round entries to two decimal places. The tolerance is 0.2.

Chapter 09, Problem 008 (Video Solution) Calculate the corporate income tax for each of the following corporate taxable incomes. (Corporate Income Tax Rates Table is required for this question.) Part a Your answer is correct. Determine the effective (average) tax rate and also the marginal tax rate if the corporate taxable income is $38,000. Round entries to two decimal places. The tolerance is 0.2 Effective (average) tax rate 15 Marginal tax rate 15 SHOW SOLUTION LINK TO TEXT LINK TO VIDEO By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor. Attempts: 1 of 2 used You have surpassed the number of attempts to earn Maximum Points for this question. For this attempt, and any subsequent attempt(s), you will earn points according to the Point Potential policy set by your instructor. Part b Determine the effective (average) tax rate and also the marginal tax rate if the corporate taxable income is $70,000. Round entries to two decimal places. The tolerance is 0.2. Effective (average) tax rate Marginal tax rate