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Taxable Income Tax Rate 0- 50,000 50,00175,000 75,00100,000 00,001-335,000 35,001-10,000,000 0,000,001-15,000,000 15,000,001-18,333,333 15% 25 34...

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Taxable Income Tax Rate 0- 50,000 50,00175,000 75,00100,000 00,001-335,000 35,001-10,000,000 0,000,001-15,000,000 15,000,001-18,333,333 15% 25 34 39 34 35 38 35 18,333,334+ Refer to the corporate marginal tax rate information in Table 23 a-1. Compute the average tax rate for a corporation with exactly $335,001 in taxable income. (Do not round intermediate calculations. Enter your answer as a percent.) Average tax rate 34% a-2. What is the average tax rate for a corporation with exactly $18,333,334 in taxable income? (Do not round intermediate calculations. Enter your answer as a percent.) Average tax rate 35 % b. The 39 percent and 38 percent tax rates both represent what is called a tax "bubble. Suppose the tax bracket from $335,000 government wanted to lower the upper threshold of the 39 percent to $210,000. What would the new 39 percent bubble rate have to be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) Bubble rate 5135 %

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