Victoria Photography, a sole proprietorship owes $190,874in taxes on a taxable income of $608,606.The company has determined that it will owe $$195,246 in tax if its taxable income rises to $620,424.What is the marginal tax rate at this level of income?
A) 39 percent
B) 38 percent
C) 37 percent
D) 35 percent
E) 32 percent
Correct Answer:
Verified
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