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Given the flat corporate tax rate of 21%, what is the tax liability and the marginal tax rate for a firm with taxable income of
Given the flat corporate tax rate of 21%, what is the tax liability and the marginal tax rate for a firm with taxable income of $450,000 ? A) Tax bill of $23,100 and marginal tax rate of 21 percent B) Tax bill of $94,500 and marginal tax rate of 34 percent C) Tax bill of $94,500 and marginal tax rate of 21 percent D) Tax bill of $23,100 and marginal tax rate of 27.83 percent E) Tax bill of $31,500 and marginal tax rate of 27.83 percent
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