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Use the following tax table to answer this question. Taxable income Tax Rate $0-50,000 15% $50,001-75,000 25% $75,001-100,000 34% $100,001-335,000 39% Pools, Inc., has taxable
Use the following tax table to answer this question. Taxable income Tax Rate $0-50,000 15% $50,001-75,000 25% $75,001-100,000 34% $100,001-335,000 39% Pools, Inc., has taxable income of $77,000 for the year. Which one of the following statements is correct concerning Pools tax situation? Pools' average tax rate is 18.74 percent. Pools' average tax rate is 34.00 percent. Pools' marginal tax rate is 15.00 percent. Pools' marginal tax rate is 18.74 percent. Pools' marginal tax rate is 39.00 percent. 7
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