Which one of the following statements related to taxes is correct?
A) The marginal tax rate must be equal to or lower than the average tax rate for a firm.
B) The tax for a firm is computed by multiplying the firm's current marginal tax rate times the taxable income.
C) Additional income is taxed at a firm's average tax rate.
D) The marginal tax rate is higher than the average tax rate in a flat-rate tax system
E) The marginal tax rate for a firm can be either higher or lower than the average tax rate.
Correct Answer:
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