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During the current year, Nitro Enterprises reports average total assets of $300,000, net income of $34,200, interest expense of $18,000, and a return on
During the current year, Nitro Enterprises reports average total assets of $300,000, net income of $34,200, interest expense of $18,000, and a return on assets of 15.3%. What is the income tax rate? Round to the nearest whole number and do not enter a percent sign or a decimal point (e.g enter 89, not 89.0% or 0.89).
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