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Given a tax rate of 13% for income up to $50,000, a tax rate of 25% for income between $50,001 and $75,000, and a tax
Given a tax rate of 13% for income up to $50,000, a tax rate of 25% for income between $50,001 and $75,000, and a tax rate of 30% for income between $75,001 and $100,000, and a tax rate of 39% for income above $100,001, if ABC Inc. reports taxable income of $175,000. How large is this firm's tax bill?
Select one:
a. $49,500
b. $61,250
c. $50,500
d. $48,750
e. $91,125
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