Examlex
Use the echelon method to solve the system of two equations in two unknowns.
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Income Tax Rate
The percentage at which an individual or corporation is taxed on their income.
Net Income
Net Income is the total profit of a company after all expenses have been deducted from revenues.
Effective Tax Rate
The average rate at which an individual or a corporation is taxed, calculated by dividing the total tax by the taxable income.
Tax Expense
The total amount of taxes owed by an individual or corporation as a result of taxable activities or income during a fiscal year.
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