Your company generated 300000 in taxable income for 2015, Financial Management

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Your company generated 300000 in taxable income for 2015

Your company generated $300,000 in taxable income for 2015. Assume that your average Federal tax rate is 22% and your State tax rate is 6%.

a. What is your combined tax rate? _________________________________

b. How much Federal tax do you owe? ______________________________

c. How much State tax do you owe? __________________

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Financial Management: Your company generated 300000 in taxable income for 2015

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Financial Management: Your company generated 300000 in taxable income for 2015

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