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QUESTION 16 Corporation XYZ ended the year with a profit of $127,500. Based...

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Accounting

QUESTION 16

  1. Corporation XYZ ended the year with a profit of $127,500.

    Based on the following Federal Tax rate structure,

    Taxable Income Over Not Over Tax Rate
    $0 $50,000 15%
    $50,000 $75,000 25%
    $75,000 $100,000 34%
    $100,000 No Limit 39%

    What is the marginal tax rate for the above corporation?

    25%

    34%

    39%

    15%

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