Question
Waylon J. Smithers, Jr. has a marginal tax rate of 40%, an effective tax rate of 20% and average rate of 30%. His total tax
Waylon J. Smithers, Jr. has a marginal tax rate of 40%, an effective tax rate of 20% and average rate of 30%. His total tax bill is $10,000. Recently, Smithers received a $20,000 nonrefundable environmental tax credit. What is the value of this to Smithers?
| A. | $4,000 | |
| B. | $6,000 | |
| C. | $8,000 | |
| D. | $10,000 | |
| E. | $20,000 |
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CAT Paper 8 Implementing Audit Procedures
Authors: BPP Professional Education
1st Edition
0751723126, 978-0751723120
