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What is Ferns effective tax rate

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Question - Fern Co. has net income, before taxes, of $200,000, including $20,000 interest revenue from municipal bonds and $10,000 paid for officers' life insurance premiums where the company is the beneficiary. The tax rate for the current year is 30%. What is Fern's effective tax rate?

a. 28.5%

b. 27.0%

c. 30.0%

d. 31.5%

Reference no: EM132535813

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