The state income tax rate is 3 and the federal income tax


The before-tax MARR for a particular firm is 25% per year. The state income tax rate is 3%, and the federal income tax rate is 34%. State income taxes are deductible from federal taxable income. What is this firm's after-tax MARR? (Enter your answer as a percent without the percent sign.)

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Finance Basics: The state income tax rate is 3 and the federal income tax
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