Question
The Stefani Co. had $278,000 in taxable income. Use the rates from Table 2.3. Calculate the companys income taxes. (Do not round intermediate calculations and
The Stefani Co. had $278,000 in taxable income. Use the rates from Table 2.3. Calculate the companys income taxes. (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Income taxes $ What is the average tax rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Average tax rate 32.89 % What is the marginal tax rate? (Do not round intermediate calculations and enter your answer as a percent rounded to the nearest whole number, e.g., 32.) Marginal tax rate 39 %
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