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If the corporate tax due on a company’s taxable income of 2.3 million dollars is 500, 000 dollars plus 30% of the income in excess of 2 million dollars, then the corporate tax due is approximately what percent of the company’s taxable income?

Explanation	Calculations	Help
$We create a variable for the company's taxable income in millions and translate "taxable income of 2.3 million dollars" into an equation.$	$I = 2.3$	Theory & Tactics Method Card TRANS1-A Click to view full details Theory & Tactics Method Card TRANS1-B Click to view full details
$We translate "500,000 dollars plus 30% of the income in excess of 2 million dollars" into a formula, converting 500,000 dollars to 0.5 million dollars.$	$T = 0.5 + \frac{30}{100} \times (I - 2)$	Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS1-C Click to view full details Theory & Tactics Method Card TRANS1-D Click to view full details Theory & Tactics Method Card TRANS2-A Click to view full details
$We calculate the tax amount in millions by substituting the value of I into the formula.$	$T = 0.5 + 0.30 \times (2.3 - 2) T = 0.5 + 0.30 \times 0.3 T = 0.5 + 0.09 T = 0.59$
$We find the corporate tax as a percentage of income by dividing T by I and converting to a percentage.$	$\frac{T}{I} = \frac{0.59}{2.3} \approx 0.26 0.26 \times 100 = 26%$	Theory & Tactics Method Card FDPR4-A Click to view full details Theory & Tactics Method Card CALC1-B Click to view full details

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C

If the corporate tax due on a company’s taxable income of 2.3 million dollars is 500, 000 dollars plus 30% of the income in excess of 2 million dollars, then the corporate tax due is approximately what percent of the company’s taxable income?

Explanation	Calculations	Help
$We create a variable for the company's taxable income in millions and translate "taxable income of 2.3 million dollars" into an equation.$	$I = 2.3$	Theory & Tactics Method Card TRANS1-A Click to view full details Theory & Tactics Method Card TRANS1-B Click to view full details
$We translate "500,000 dollars plus 30% of the income in excess of 2 million dollars" into a formula, converting 500,000 dollars to 0.5 million dollars.$	$T = 0.5 + \frac{30}{100} \times (I - 2)$	Theory & Tactics Method Card TRANS1-B Click to view full details Theory & Tactics Method Card TRANS1-C Click to view full details Theory & Tactics Method Card TRANS1-D Click to view full details Theory & Tactics Method Card TRANS2-A Click to view full details
$We calculate the tax amount in millions by substituting the value of I into the formula.$	$T = 0.5 + 0.30 \times (2.3 - 2) T = 0.5 + 0.30 \times 0.3 T = 0.5 + 0.09 T = 0.59$
$We find the corporate tax as a percentage of income by dividing T by I and converting to a percentage.$	$\frac{T}{I} = \frac{0.59}{2.3} \approx 0.26 0.26 \times 100 = 26%$	Theory & Tactics Method Card FDPR4-A Click to view full details Theory & Tactics Method Card CALC1-B Click to view full details

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C