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The tax rates for a particular year are shown below: Taxable Income Tax Rate $0 50,000 15 % 50,001 75,000 25 % 75,001 100,000 34
The tax rates for a particular year are shown below:
| Taxable Income | Tax Rate | |
| $0 50,000 | 15 | % |
| 50,001 75,000 | 25 | % |
| 75,001 100,000 | 34 | % |
| 100,001 335,000 | 39 | % |
What is the average tax rate for a firm with taxable income of $122,513?
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Personal Financial Planning
Authors: Randy Billingsley, Lawrence J. Gitman, Michael D. Joehnk
15th Edition
978-0357438480, 0357438485
