What is the average tax rate for a firm with taxable income of $118,740 in 2017? Taxable Income $ 0 - 50,000 50,001 - 75,000 75,001-100,000 100,001-335,000 Tax Rate 15% 25 34 39 Multiple Choice 26.68 percent 34.87 percent 24.89 percent 36.67 percent 39.00 percent