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Your company generated $220,000 taxable income in 2017. Assume that your average federal tax rate is 21% and your state tax rate is 9%. a)

Your company generated $220,000 taxable income in 2017. Assume that your average federal

tax rate is 21% and your state tax rate is 9%.

a) What is your combined tax rate? ____________________

b) How much state tax do you owe? ___________________

c) How much federal tax do you owe?

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