Question 7.T-Y-S.B: If the incremental federal income tax rate is 34% and the in...

Engineering Economy [EXP-45247]

If the incremental federal income tax rate is $34 \%$ and the incremental state income tax rate is $6 \%$ , what is the effective combined income tax rate $(t)$ ? If state income taxes are $12 \%$ of taxable income, what now is the value of $t$ ? (7.7)

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