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Nancy Company pays taxes of 15% on their first $20,000 of pretax income and 40% on any taxable income in excess of $20,000. The current
Nancy Company pays taxes of 15% on their first $20,000 of pretax income and 40% on any taxable income in excess of $20,000. The current pretax income is $50,000. What is the average tax rate? 15% 21% 24% 30%
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