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Given the tax rates below, what is the average tax rate for Finco with taxable income of $320,000. Taxable Income Tax Rate $0 40,000 11%

Given the tax rates below, what is the average tax rate for Finco with taxable

income of $320,000.

Taxable Income

Tax Rate

$0 40,000

11%

$40,000 - $75,000

22%

$75,000 - $150,000

32%

4

$150,000 - $450,000

40%

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