Assuming at the $50,000 income level that the corporate tax rate increases from 15 to 25%,which of the following statements is correct for a firm with $75,000 income?
A) Its marginal tax rate is 15%.
B) Its average tax rate is 25%.
C) Its marginal tax rate is 18.33%.
D) Its average tax rate is 18.33%.
Correct Answer:
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