Lonesome Company, with pretax income of $80,000, is required to pay taxes of 25% on all income up to $20,000 and 35% on any income in excess of $20,000.Lonesome Company 's average tax rate is _____.

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The Answer of Lonesome Company, with pretax income of $80,000, is required to pay taxes of 25% on all income up to $20,000 and 35% on any income in excess of $20,000.Lonesome Company 's average tax rate is _____.

Lonesome Company, with Pretax Income of $80,000, Is Required to Pay