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In its 2016 annual report to shareholders,Black Inc.disclosed the following information about income taxes.
A reconciliation of income taxes computed at the United States federal statutory income tax rate (35%)to the provision (benefit)for income taxes reflected in the Consolidated Statement of Operations for the years ended December 31,2016,2015,2014,is as follows ($ in millions): The significant components of the net deferred tax assets at December 31,2016 and 2015,were as follows ($ in millions):
-Estimate the effective tax rate for Black Inc.in 2016.Why is it different from the 35% federal statutory rate?

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Use the following to answer question 
In its 2016 annual report to shareholders,Black Inc.disclosed the following information about income taxes.
A reconciliation of income taxes computed at the United States federal statutory income tax rate (35%)to the provision (benefit)for income taxes reflected in the Consolidated Statement of Operations for the years ended December 31,2016,2015,2014,is as follows ($ in millions):  The significant components of the net deferred tax assets at December 31,2016 and 2015,were as follows ($ in millions): 
-Estimate the effective tax rate for Black Inc.in 2016.Why is it different from the 35% federal statutory rate?

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In its 2016 annual report to shareholders,Black Inc.disclosed the following information about income taxes.
A reconciliation of income taxes computed at the United States federal statutory income tax rate (35%)to the provision (benefit)for income taxes reflected in the Consolidated Statement of Operations for the years ended December 31,2016,2015,2014,is as follows ($ in millions):  The significant components of the net deferred tax assets at December 31,2016 and 2015,were as follows ($ in millions): 
-Estimate the effective tax rate for Black Inc.in 2016.Why is it different from the 35% federal statutory rate?

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