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Mitchell Corporation prepared the following reconciliation for 2021: Pretax financial income for 2021 $ 1,440 Permanent difference 120 Originating temporary difference (280) Taxable income $1,280

Mitchell Corporation prepared the following reconciliation for 2021:

Pretax financial income for 2021 $ 1,440

Permanent difference 120

Originating temporary difference (280)

Taxable income $1,280

The temporary difference will reverse evenly over the next two years at an enacted tax rate of 30%. The enacted tax rate for 2021 is 25%. Compute Mitchells effective tax rate for 2021 (show computation):

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