Finance Homework Help....PLEASE!!!! Average and Marginal Tax Rate?

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04-10-2008, 01:30 AM

bfranz48154

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Finance Homework Help....PLEASE!!!! Average and Marginal Tax Rate?

A Firm currently has an average tax rate of 20 perecent and a marginal tax rate of 25 percent based on its current taxable income of $36,600. What will the firm's average tax rate be if it increases its taxable income by $1,100?

I am not looking for the answer, I am simply looking for the way to figure it out. I have no idea on how to even start it. So any help will be greatly greatly appreciated. Thank You

Bill
The options are
A.) 20 Percent
B.) 20.05 Percent
C.) 20.09 Percent
D.) 20.15 Percent

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