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Refer to the Tax Rate Table below. Corporation Growth has $92000 in taxable income. Suppose Corporation Growth has identified a new project that will increase
Refer to the Tax Rate Table below. Corporation Growth has $92000 in taxable income. Suppose Corporation Growth has identified a new project that will increase taxable income by $75000. How much in additional taxes will Corporation Growth Marginal Tax Rates pay?
TABLE 2.3Corporate tax rates TABLE 2.3 Taxable Income Tax Rate 0 50,000 50,0015,000 75,001 100,000 100,00335,000 335,001 10,000,000 10,000,00 15,000,000 15,000,001- 18,333,333 15% 25 18,333,334 35
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