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Thornton, Incorporated, had taxable income of $130,022 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 21

Thornton, Incorporated, had taxable income of $130,022 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 21 percent. How much did the company have to pay in taxes for the year?

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