Answered: Given the information below, what is…

Given the information below, what is the marginal tax rate if a firm has taxable income of $160,000? Taxable Income Tax Rate 0- 50,000 15% 50,001- 75,000 25% 75,001- 100,000 34% 100,001- 335,000 39%

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter3: Cost-volume-profit Analysis

Section: Chapter Questions

Problem 8MC: A company has wants to earn an income of $60,000 after-taxes. If the tax rate is 32%, what must be...

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Question

Given the information below, what is the marginal tax rate
if a firm has taxable income of $160,000?
Taxable Income
Tax Rate
0-
50,000
15%
50,001-
75,000
25%
75,001-
100,000
34%
100,001-
335,000
39%

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