In: Finance
TLC Company had $215,000 in taxable income last year. Fill in the blanks using the tax schedule:
Total Tax owed _______________________
Tax Schedule
0 – 50,000 15% Average Tax rate _____________________
50,001 – 75,000 25%
75,001 – 100,000 34% Marginal Tax rate _____________________
100,001 – 335,000 39%