Given the following tax structure, what is the minimum tax that would need to be assessed on Lizzy to make the tax progressive with respect to average tax rates? What is the minimum tax that would need to be assessed on Lizzy to make the tax progressive with respect to effective tax rates?
Definitions:
Direct Method
A cash flow statement preparation approach that lists major operating cash receipts and payments, providing a clearer view of cash flow sources and uses.
Total Assets Ratio
A financial ratio comparing the total assets of a company to another financial metric, often used to assess a company's leverage or investment efficiency.
Long-Term Assets
Assets expected to provide economic benefits over a period longer than one year, such as buildings, machinery, and land.
Total Assets Ratio
A financial metric that measures the efficiency of a company's use of its assets to generate revenue.
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