Thornton, Inc., had taxable income of $129632 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 23.5 percent. How much did the company have to pay in taxes for the year? a.30432 b.44075 c.30776 d.29074

Thornton, Inc., had taxable income of $129632 for the year. The company's marginal tax rate was 34 percent and its average tax rate was 23.5 percent. How much did the company have to pay in taxes for the year? a.30432 b.44075 c.30776 d.29074

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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a.30432

b.44075

c.30776

d.29074

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