For 2016, What Is the Maximum Tax Rate for Personal

question 11

Multiple Choice

For 2016, what is the maximum tax rate for personal service corporations?

• A)25 percent
• B)28 percent
• C)34 percent
• D)35 percent
• E)None of the above

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Definitions:

Strike Price

The set price at which an option contract can be bought (call) or sold (put) when it is exercised.

Market Price

The current price at which an asset or service can be bought or sold in a marketplace.

Call Option

A financial contract giving the buyer the right, but not the obligation, to buy a stock, bond, commodity, or other asset or instrument at a specified price within a specific time period.

Exercise Price

The cost at which an option's owner is allowed to purchase (for a call option) or sell (for a put option) the underlying asset.