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Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest and $12,550 in dividends. It also increased retained earnings
Mariota Industries has sales of $304,940 and costs of $153,070. The company paid $24,070 in interest and $12,550 in dividends. It also increased retained earnings by $63,542 during the year. If the company's depreciation was $15,335, what was its average tax rate?
30.92%
32.34%
47.80%
24.13%
11.93%
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