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Suppose that in addition to $16.75 million taxable income. Texas Taco, Inc, received $9,000,000 of interest on state-issued bonds and $800,000 of dividends on common

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Suppose that in addition to $16.75 million taxable income. Texas Taco, Inc, received $9,000,000 of interest on state-issued bonds and $800,000 of dividends on common stock in Arizona Taco, Inc. a. Use the tax schedule in Table 23 to calculate Texas Taco's income tax liability. b. What are Texas Taco's average and marginal tax rates on taxable income

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