If a company’s total effective income tax rate is 40 \% and its state income tax rate is 20 \%, what is the company’s federal income tax rate? (7.7)
(a) 20 \% (b) 25 \% (c) 35 \% (d) 40 \% (e) 52 \%
If a company’s total effective income tax rate is 40 \% and its state income tax rate is 20 \%, what is the company’s federal income tax rate? (7.7)
(a) 20 \% (b) 25 \% (c) 35 \% (d) 40 \% (e) 52 \%