Refer to Kravitz Corporation.What is Kravitz' effective income tax rate?

Name: Refer to Kravitz Corporation.What is Kravitz' effective income tax rate?
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Question

Quizplus · Accepted Answer

In the Kravitz Corporation's income statement, we can observe that the income tax expense is $2,932, and the income before taxes is $8,908. Thus, the effective income tax rate for Kravitz is ($2,932 / $8,908) x 100 = 32.9%. The correct answer is option A.