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An Environmental Service expects to generate a taxable income of $350,000 from its regular business...

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Accounting

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An Environmental Service expects to generate a taxable income of $350,000 from its regular business in 2008. The company is also considering a new venture: cleaning up oil spills made by fishing boats in lakes. This new venture is expected to generate an additional taxable income of $180,000. Answer the following. a) Determine the firm's marginal tax rates before and after the venture. 3) Taxable income before: Marginal tax rate before Income taxes before Taxable income after: Marginal tax rate after Income taxes after b) Determine the firm's effective(average) tax rates before and after the venture. Effective tax rate without (before): Effective tax rate with (after)

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