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QUESTION 7 10 P Assume that you have a marginal tax rate of 28 percent, a state income tax rate of 6 percent, and have

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QUESTION 7 10 P Assume that you have a marginal tax rate of 28 percent, a state income tax rate of 6 percent, and have a city income tax rate of 2 percent. The tax for Social Security and Medicare is 7.65 percent. What would be the effective marginal tax rate on your last dollar of earnings

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