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The SGS Co. had $120,000 in taxable income. Use the rates from Table 2.3. (Enter your answer as directed, but do not round intermediate calculations.)

The SGS Co. had $120,000 in taxable income. Use the rates from Table 2.3. (Enter your answer as directed, but do not round intermediate calculations.) Requirement 1: What is the average tax rate? (Round your answer to 2 decimal places (e.g., 32.16).) Average tax rate % Requirement 2: What is the marginal tax rate? Marginal tax rate %

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