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Tax Table

-Refer to Tax Table.First Watch,Inc.has a pretax income of $3,755,250.What is the company's average tax rate?

Question

NARRBEGIN: Tax table
Tax Table
 
-Refer to Tax Table.First Watch,Inc.has a pretax income of $3,755,250.What is the company's average tax rate?

Quizplus · Accepted Answer

The average tax rate is determined by dividing the total tax paid by the total income. Given the specific income amount, the tax rate applicable from the tax table would be 34%. This is because corporate tax rates are typically structured in brackets, and a pretax income of $3,755,250 would fall into the bracket taxed at a 34% rate according to common tax tables for corporations.

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