A company made an additional (incremental) income of $10.000 during the last week of the year. This extra income is subject to a federal tax rate of 21% and a 10% flat state tax What is this company's effective tax rate? Edit Format Table

A company made an additional (incremental) income of $10.000 during the last week of the year. This extra income is subject to a federal tax rate of 21% and a 10% flat state tax What is this company's effective tax rate? Edit Format Table

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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3 A company made an additional (incremental) income of $10.000 during the last week of the year. This extra income is subject to a federal tax rate
of 21% and a 10% flat state tax.
What is this company's effective tax rate?
Edit Format Table

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