The tax rates for a particular year are shown below:$0 - 50,000Taxable IncomeTax Rate15%25 %34 %50,00175,00075,001 100,000-100,001 - 335,000 39 %What is the average tax rate for a firm with taxable income of $125,013? (enter just the numbers. e.g., enter 15.56% as15.56.)

Solution:Average tax rate refers to the percentage of total taxes paid to the total taxable…

The tax rates for a particular year are shown below: Taxable Income $0-50,000 Tax Rate 15 % - 50,001 75,000 25 % 75,001-100,000 100,001 335,000 39 % 34 % What is the average tax rate for a firm with taxable income of $125,013? (enter just the numbers. e.g., enter 15.56% as 15.56.)

The tax rates for a particular year are shown below: Taxable Income $0-50,000 Tax Rate 15 % - 50,001 75,000 25 % 75,001-100,000 100,001 335,000 39 % 34 % What is the average tax rate for a firm with taxable income of $125,013? (enter just the numbers. e.g., enter 15.56% as 15.56.)

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

The tax rates for a particular year are shown below:
$0 - 50,000
Taxable Income
Tax Rate
15
%
25 %
34 %
50,00175,000
75,001 100,000
-
100,001 - 335,000 39 %
What is the average tax rate for a firm with taxable income of $125,013? (enter just the numbers. e.g., enter 15.56% as
15.56.)

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