Sea Harbor, Inc. has a marginal tax rate of.... Please need answer the accounting question Sea Harbor, Inc. has a marginal tax rate of 35 percent and an averagetax rate of 22 percent. If the firm earns $79,500 in taxable income, howmuch will it owe in taxes?a. $10,335.b. $16,695.c. $17,490.d. $27,030.e. $27,825.

Step 1: Define Income TaxThe overall taxes of an economy can be broadly categorized into direct…

Answered: Sea Harbor, Inc. has a marginal tax…

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter6: Accounting For Financial Management

Section: Chapter Questions

Problem 7P

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Sea harbor inc. has a marginal tax solve this accounting questions
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Sea Harbor, Inc. has a marginal tax rate of 35 percent and an average tax rate of 22 percent. If the firm earns $79,500 in taxable income, how much will it owe in taxes? a. $10,335. b. $16,695. c. $17,490. d. $27,030. e. $27,825.