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Thompson & Sons paid $246,220 in taxes last year on taxable income of $1,245,400. This year, the firm paid $354,250 on taxable income of $1,554,300.
Thompson & Sons paid $246,220 in taxes last year on taxable income of $1,245,400. This year, the firm paid $354,250 on taxable income of $1,554,300. Assume the same tax rates/tables apply to both years. What was the marginal tax rate this year? (Rounded to one decimal point.)\ \ (Enter % as number not fraction, e.g. 34.8 for 34.8%, not 0.348. You will be marked wrong if the answer is in the wrong format.)
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