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The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items
The table below contains data on Fincorp Inc. The balance sheet items correspond to values at year-end 2015 and 2016, while the income statement items correspond to revenues or expenses during the year ending in either 2015 or 2016. All values are in thousands of dollars. Revenue Cost of goods sold Depreciation Inventories Administrative expenses Interest expense Federal and state taxes* Accounts payable Accounts receivable Net fixed assets Long-term debt Notes payable Dividends paid Cash and marketable securities 2015 $4,800 1,900 410 250 530 300 470 250 400 5,400 2,500 850 500 860 2016 $4,900 2,000 430 310 580 300 490 300 475 6,260 2,800 540 500 400 * Taxes are paid in their entirety in the year that the tax obligation is incurred. t Net fixed assets are fixed assets net of accumulated depreciation since the asset was installed. What was the firm's average tax bracket for each year? (Enter your answers as a percent rounded to 1 decimal places.) 2015 2016 Average tax rate % %
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