What is the total state and federal income tax it must pay


A rust-belt state has a state corporate tax rate of 6.4% of taxable income. A corporation has a state taxable income of $350,000.

a) What is the total state and federal income tax it must pay?

Reasoning/Work:

b) Compute its combined incremental state and federal income tax rate.

Reasoning/Work:

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Financial Management: What is the total state and federal income tax it must pay
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