Coastal Corporation estimates its income, by calendar quarter, as follows for 2018:

Coastal Corporation estimates its income, by calendar quarter, as follows for 2018:

                                                      1st                     2nd                       3rd                      4th                     2018

                                                 Quarter              Quarter             Quarter             Quarter                  Total

Est. Income                          $30,000              $40,000             $35,000             $40,000          $150,000

Income tax rates applicable to CoastalCorporation:

From: $ 0 to $50,000                                                         15%

From: $50,001 to $75,000                                                25%

Over: $75,000                                                                      35%

Required:

Determine Coatal Corporation’s estimated effective tax rate.

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