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The SGS Co. had $226,139 in taxable income. Using the rates from the table below,...

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Accounting

The SGS Co. had $226,139 in taxable income. Using the rates from the table below, calculate the companys income taxes. What is the average tax rate? Enter your answer as 4 decimals (e.g. 12.34% is to be entered as 0.1234). (If the table doesn't display, use Table 2.3 from page 31 in the book).

Taxable Income Tax Rate

0-50,000 15%

50,001-75,000 25

75,001-100,000 34

100,001-33,5000 39

335,001-10,000,000 34

10,000,001-15,000,000 35

15,000,001-18,333,333 38

18,333,334+ 35

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