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What is the average tax rate based on taxable income

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Problem - The Talley Corporation had taxable operating income of $365,000 (i.e., earnings from operating revenues minus all operating costs). Talley also had (1) interest charges of $50,000, (2) dividends received of $15,000, (3) dividends paid of $25,000, and (4) income taxes. What is the firm's taxable income? What is its marginal tax rate? What is its tax expense? What is its after-tax income? What is the average tax rate based on taxable income?

Reference no: EM132897812

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