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OOOOO Danio Inc.'s income before taxes is $250,000 and its tax rate is 40%. Danio included $10,000 of interest from municipal bonds in the $250,000.
OOOOO Danio Inc.'s income before taxes is $250,000 and its tax rate is 40%. Danio included $10,000 of interest from municipal bonds in the $250,000. There are no other book-tax differences. What is the effective tax rate for Danio Inc. ? (Do not round intermediate calculations. Only round your final answer to the nearest percent.) O A. 42% OB. 37% OC. 38% OD. 40%
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