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Question: Average corporate tax rates.sing the corporate tax rate schedule given in Table 2.1, perform the following:

A. Calculate the tax liability, after tax earnings, and average tax rates for the following levels of corporate earnings before taxes: $10,000; $80,000;$300,000; $500,000;$1.5 million; $10 million; and $20 million.

B. Plot the average tax rates ( measured on the y axis) against the pretax income levels (measured on the x axis). What generalization can be made concerning the relationship between the variables?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92574760

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