I need answer of this question solution general accounting Sea Harbor, Inc. has a marginal tax rate of 35 percent andan average tax rate of 22 percent. If the firmearns $79,500 in taxable income, how much will it owe intaxes?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…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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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.