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Please show ALL work on EXCEL, thank you! 2. SGS Co. had $16,500,000 in taxable income. Use the tax table below to calculate the company's
Please show ALL work on EXCEL, thank you!
2. SGS Co. had $16,500,000 in taxable income. Use the tax table below to calculate the company's income tax. What is its average tax rate? What is its marginal tax rate? Taxable Income 0 $50,000 50,001 75,000 75,001 - 100,000 100,001 335,000 335,001 - Tax Rate 15% 25% 34% 39% 10,000,000 34% 10,000,001 - 15,000,000 35% 15,000,001 - 18,333,333 38% 18,333,334+ 35%Step by Step Solution
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