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PLEASE EXPLAIN DETAILED STEPS WITH FNANCE CALCULATOR. THANKS Suppose a firm earns $1,250,000 in taxable...

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Accounting

PLEASE EXPLAIN DETAILED STEPS WITH FNANCE CALCULATOR. THANKS

Suppose a firm earns $1,250,000 in taxable income. What are the firm's average tax rate? What is the firm's marginal tax rate?

(a) Average Tax rate 34%; Marginal Tax Rate 34%

(b) Average Tax rate 34%; Marginal Tax rate 39%

(c) Average Tax rate 39%; Marginal Tax rate 34%

(d) Average tax rate 28.5%; Marginal Tax Rate 34%

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