The SGS Co. had $140,000 in taxable income. Use the rates from Table 2.3.

What is the average tax rate?

What is the marginal tax rate?

TABLE 2.3 Tax Rate Taxable Income Corporate tax rates 50,000 75,000 75,001 100,000 100,001335,000 335,001-10,000,000 10,000,001- 15,000,000 15,000,001- 18,333,333 15% 25 34 39 34 35 38 35 0- 50,001- 18,333,334+