FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:The tax rates are as shown below:
Taxable Income
$0 - 50,000
50,001 - 75,000
75,001 100,000
100,001 - 335,000
Tax Rate
15%
25%
34%
39%
Your firm currently has taxable income of $80,700. How much additional tax will you owe if you increase your taxable income by
$21,900?
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