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The tax rates faced by a firm are shown below. Your firm currently has taxable income of 79,400. How much additional tax will you owe

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The tax rates faced by a firm are shown below. Your firm currently has taxable income of 79,400. How much additional tax will you owe if you increase your taxable income by 21,000? Taxable Income 0 - 50,000 50,001 - 75,000 75,001 - 100,000 100,001 - 335,000 Tax Rate 15% 25% 34% 39% a) 7,004 b) 7,160 Oc) None of the other answers is correct d) 7,014 e) 7,140

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