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If Cindy invests $1,000 at 8% and subsequently earns $48 in after-tax income on the investment at the end of the first year, what is

If Cindy invests $1,000 at 8% and subsequently earns $48 in after-tax income on the investment at the end of the first year, what is Cindy's tax rate? Multiple Choice 8% 4.8% 40% 60% Multiple Choice

8%

4.8%

40%

60%

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