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Red, White, Blue, and Magenta have taxable income as follows:

Corporation Taxable Amount
Blue $ 91,000
White 320,000
Red 800,000
Magenta 50,000,000

a. find out the marginal tax rate and the effective tax rate for each of the C corporations.

b. describe why the marginal tax rate for a C corporation can exceed 35%, but the effective tax rate cannot.

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