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Suppose the tax rate on interest income is 38 %, and the average tax rate on capital gains and dividend income is 25 %. How

Suppose the tax rate on interest income is 38 %, and the average tax rate on capital gains and dividend income is 25 %. How high must the marginal corporate tax rate be for debt to offer a tax advantage? The marginal tax rate must be at least ____%. (Round to two decimal places.)

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