A small manufacturing company has an estimated annual taxable income of $210,000. Due to an increase in business, the company is considering in purchasing a new machine that will generate additional (before-tax) annual revenue of $60,000 over the next five years. The new machine requires an investment of $100,000, which will be depreciated under the five year MACRS method. What is the incremental tax rate associated with the purchase of the new equipment in year 1? (check U.S. corporate tax schedule).