What are the average and marginal tax rates for a corporation that has $97,648 of taxable income? The tax rates are as follows:
A) 21.97%; 25%
B) 21.97%; 34%
C) 23.08%; 34%
D)34%; 34%

Name: What are the average and marginal tax rates for a corporation that has $97,648 of taxable income? The tax rates are as follows: A) 21.97%; 25% B) 21.97%; 34% C) 23.08%; 34% D)34%; 34%
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Question

What are the average and marginal tax rates for a corporation that has $97,648 of taxable income? The tax rates are as follows: 
A) 21.97%; 25% 
B) 21.97%; 34% 
C) 23.08%; 34% 
D)34%; 34%

Quizplus · Accepted Answer

Average tax rate = $21,450.32/$97,648 = .2197, or 21.97%Marginal tax rate = 34%

What Are the Average and Marginal Tax Rates for a Corporation