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Mariota Industries has sales of $339,620 and costs of $164,710. The company paid $27,910 in interest and $13,450 in dividends. It also increased retained earnings

  1. Mariota Industries has sales of $339,620 and costs of $164,710. The company paid $27,910 in interest and $13,450 in dividends. It also increased retained earnings by $66,350 during the year. If the company's depreciation was $17,405, what was its average tax rate?

     

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