A company earns $375,000 in a year (pre tax). Based on the table below, what is its marginal tax rate? Income Range Tax Bracket 40,000 11% 40,000 100,000 20% 100,000 - 160,000 25% 160,000 - 230,000 32% 230,000 310,000 40% 310,000 450,000 43%

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
icon
Related questions
Question

Typed plz and asap 

A company earns $375,000 in a year (pre tax). Based on the table below, what is its marginal
tax rate?
Income Range
Tax Bracket
40,000 11%
40,000
100,000 20%
100,000 -
160,000 25%
160,000 -
230,000 32%
230,000
310,000 40%
310,000
450,000 43%
Transcribed Image Text:A company earns $375,000 in a year (pre tax). Based on the table below, what is its marginal tax rate? Income Range Tax Bracket 40,000 11% 40,000 100,000 20% 100,000 - 160,000 25% 160,000 - 230,000 32% 230,000 310,000 40% 310,000 450,000 43%
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
Economics
ISBN:
9780190931919
Author:
NEWNAN
Publisher:
Oxford University Press
Principles of Economics (12th Edition)
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education