Kasar Co. has net income, before taxes, of $335,000, including $35,000 in interest revenue from municipal bonds and $12,000 paid for nondeductible officers life insurance premiums where the company is the beneficiary. The effective tax rate for the current year is 29.5%. What is Kasars actual tax rate for the current year?

Multiple Choice

29.5%

30.0%

31.0%

31.7%