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The SGS Co. had $209,036 in taxable income. Using the rates from the table below, calculate the companys income taxes. What is the average tax
The SGS Co. had $209,036 in taxable income. Using the rates from the table below, calculate the companys income taxes. What is the average tax rate? Enter your answer as 4 decimals (e.g. 12.34% is to be entered as 0.1234). (If the table doesn't display, use Table 2.3 from page 31 in the book).
Taxable Income Tax Rate 15% 25 34 0- 50,000 50,001- 75,000 75,001- 100,000 100,001- 335,000 335,001- 10,000,000 10,000,001 15,000,000 15,000,001 18,333,333 18,333,334+ 39 34 35 38 35Step by Step Solution
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