Problem
Tiny Tech's taxable income is $72,000. A new product would increase this by $15,000 (to $87,000) per year for 10 years.
(a) What tax is paid without the new product?
(b) What tax is paid with the new product?
(c) What are the product's marginal and average income tax rates?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.