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Your company will generate $350,000 in taxable income for 2018. Assume that your State tax rate is 6%. a. What is your combined tax rate?

Your company will generate $350,000 in taxable income for 2018. Assume that your State tax

rate is 6%.

a. What is your combined tax rate? _________________________________

b. How much Federal tax do you owe? ______________________________

c.How much State tax do you owe? _________________________________

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