CONNECT WITH LEARNSMART FOR BODIE: ESSE
11th Edition
ISBN: 9781265046392
Author: Bodie
Publisher: MCG
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Chapter 21, Problem 9PS
Summary Introduction
To determine:
If 1% increase in ROR offset is a1% increase in tax rate as per given spread sheet 21.4,
Introduction:
Flat tax rate can be defined as a tax code that taxes all income above some exemption at a fixed rate. Under this, tax is levied on nominal income and applies as well as to investment income.
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