A corporation has the following financial information for a typical operating year Click on the following icon in order to copy

Question

A corporation has the following financial information for a typical operating year Click on the following icon in order to copy its contents into a spreadsheet Gross revenue Cost of goods sold Operating costs Federal taxes State taxes 7 800 000 3 650 000 780 000 667 870 189 660 a On the basis of this financial information determine both federal and state marginal tax rates The marginal state tax rate is Round to two decimal places

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