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1. In 2008, XYZ Company had $1,535,000 in revenues and $1,200,000 in expenses. According to the Corporate Income Tax Table, what are the average and marginal tax rates respectively? (Round to nearest whole percent)
a) 30% average, 39% marginal
b) 34% average, 39% marginal
c) 21% average, 34% marginal
d) 23% average, 34% marginal
2. The constant dollar cash flow is $35,000 10 years from now. What is the Actual dollar equivalent today? (f=4%, i=10%)
a) $12,278
b) $35,000
c) $44,407
d) $53,700
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