Exhibit 2-1
The tax schedule for corporate income is shown in the table below:

-Refer to Exhibit 2-1.Pale Rider Corporation reports taxable income of $500,000 in 2011.What was the average tax rate they paid for the year?

Question

Exhibit 2-1
The tax schedule for corporate income is shown in the table below:
 
-Refer to Exhibit 2-1.Pale Rider Corporation reports taxable income of $500,000 in 2011.What was the average tax rate they paid for the year?

Quizplus · Accepted Answer

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

Exhibit 2-1 the Tax Schedule for Corporate Income Is Shown in the in the Table