A comnany made an additional (incremental) income of $10,000 during the last week of the year. This extra inc
A comnany made an additional (incremental) income of $10,000 during the last week of the year. This extra inc
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:A company made an additional (incremental) income of $10,000 during the last week of the year. This extra income is subject to a federal tax
rate of 21% and a 10% flat state tax.
What is this company's effective tax rate?
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