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Thornton, Inc., had taxable income of $129,632 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 24.7

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Thornton, Inc., had taxable income of $129,632 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 24.7 percent. How much did the company have to pay in taxes for the year

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