Calculate chapman and power average tax rate

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Reference no: EM132930242

Chapman & Power Inc. is concerned about the taxes paid by the company in 2021. In addition to $150,000,000 of taxable income, the firm received $23,000,000 of interest on state-issued bonds and $19,500,000 of dividends on common stock it owns in Hunt Taxidermy. (Use corporate tax rate of 21 percent for your calculations.)

Problem 1: Calculate Chapman & Power's tax liability. (Enter your answer in dollars not in millions.)

Problem 2: Calculate Chapman & Power's average tax rate. (Round your answer to 2 decimal places.)

Problem 3: Calculate Chapman & Power's marginal tax rate.

Reference no: EM132930242

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