Average tax rate and marginal tax rate

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Reference no: EM131569636

A corporation with sales of $230,000 (OK it's a small corporation!) paid $11,250 federal tax on taxable income of $55,000. They also had an end-of-year party where they ordered 50 Big Macs at $2.79 each. Given the above what was their: a. Average tax rate. b. Marginal tax rate.

Reference no: EM131569636

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