Problem 3-38 Tax Rates (LO4) The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2018 and 2019, while the income statement items correspond to revenues or expenses during the year ending in either 2018 or 2019. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2018 $5,700 1,600 430 350 500 120 920 260 450 5,800 2,000 820 350 760 2019 $5,800 1,700 450 405 550 120 940 335 490 6,490 2,320 490 350 370 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the firm's average tax bracket for each year? (Enter your answers as a percent rounded to 1 decimal places.) 2018 2019 Average tax rate % %