-Refer to Exhibit 2-1. Pale Rider Corporation reports taxable income of $500,000 in 2004. What was the average tax rate they paid for the year?

Name: -Refer to Exhibit 2-1. Pale Rider Corporation reports taxable income of $500,000 in 2004. What was the average tax rate they paid for the year?
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Quizplus · Accepted Answer

Taxes Paid=50000*.15+25000*.25+25000*.34+235000*.39+165000*.34=170000
170000/500000=.34