Caldweiler & Co. owes a total of $21,684 in taxes for this year. The taxable income is $71,509. If the firm earns $100 more in income, it will owe an additional $36 in taxes. What is the average tax rate on income of $71,609?
A) 28.00 percent
B) 30.33 percent
C) 33.33 percent
D) 34.00 percent
E) 36.00 percent
Correct Answer:
Verified
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