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Nostrana [21]
1 year ago
11

porter jewelers, a sole proprietorship has a marginal tax rate of 32 percent and an average tax rate of 20.9 percent. if the fir

m owes $34,330 in taxes, how much taxable income did it earn?
Business
1 answer:
Vitek1552 [10]1 year ago
6 0

The amount of Taxable income earned equals $164,258.37.

<h3>What is a Taxable income?</h3>

It refers to any gross income earned that is used to calculate the amount of tax you owe.

Taxable income = $34,330 / .209

Taxable income = $164,258.37

Therefore, the amount of Taxable income earned equals $164,258.37.

Read more about Taxable income

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