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the answers must be as a formula Oakdale Fashions, Inc., had $315,000 in 2015 taxable income. Use the tax schedule in Table 2.3 to calculate

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Oakdale Fashions, Inc., had $315,000 in 2015 taxable income. Use the tax schedule in Table 2.3 to calculate the company's 2015 income taxes. What is the average tax rate? (Round your answer to 2 decimal places.) What is the marginal tax rate? Taxable income $ 315,000 table 2.3 Corporate Tax Rates as of 2015 25% Plus this Percentage Taxable Income (Bottom of Taxable income Pay this Amount on Anything Over the Bracket) (Top of Bracket) on Base Income Base 50,000 $ 15% 50,001 75,000 7,500 75,001 $ 100,000 $ 13,750 34% 100,001 $ 335,000 $ 22,250 39% 335,001 10,000,000 $ 113,900 34% 10,000,001 15,000,000 3,400,000 35% 15,000,001 $ 18,333,333 $ 5,150,000 38% 18,333,334 6,416,667 35% $ Complete the following analysis. Do not hard code values in your calculations. Tax on base income of bracket Tax on income within final bracket Total tax Average tax rate Marginal tax rate

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