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If the incremental federal income tax rate is 34% and the incremental state income tax rate is 4%, what is the effective combined income tax
If the incremental federal income tax rate is 34% and the incremental state income tax rate is 4%, what is the effective combined income tax rate (t)? If state income taxes are 14% of taxable income, what now is the value of t? If state income taxes are 4% the effective combined income tax rate is ___%
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