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A company has $14,500,000 in taxable income. Consider the following corporate marginal tax rates: Taxable income ($) Tax rate 0- 50,000 15% 50,001- 75,000 25% 75,001- 100,000 34% 100,001- 335,000 39% 335,001- 10,000,000 34% 10,000,001- 15,000,000 35% 15,000,001- 18,333,333 38% 18,333,334+ 35% Attempt 1/10 for 10 pts. Part 1 What is the marginal tax rate for the company?

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Answer: 35%

Explanation:

The marginal corporate tax rate is the added tax amount that a company pays for every additional dollar that it makes as income.

It is given in ranges which show the rate to be paid for the amount of income earned by the company.

This company earned $14,500,000 in taxable income and so will fall under the 10,000,001- 15,000,000 bracket which means that their marginal tax rate is 35%.

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