1) In 2010 Trucking Inc. had $1250000 in revenues and $1013000 in expenses. What are the Average and Marginal Tax rates respectively? (round to nearest whole percent)a) 29% Average 25% Marginalb) 39% Average 31% Marginalc) 32% Average 39% Marginald) 34% Average 39% Marginal2) Your are projecting Operating Revenues and Expenses of $200K and $130K respectively.You are considering a project that would provide additional Revenues and Expenses of$40K and $20K respectively. What is the incremental tax rate of the project?a) 29.54%b) 17.86%c) 20.94%d) 31.75%3) If your companys taxable income is $80000 and state taxes are 6% and federal taxes are34% how much TOTAL TAXES do you owe?a) $25568b) $30368c) $32000d) $272004) For a certain commodity prices increase by 50% the first year and 30% the second year.Determine the average inflation rate for this commodity over this two-year period.a) 80.0%b) 40.5%c) 39.6%d) 40.0%