Answer: let get Price tax Rate = function | "banana" -> 0.79 * (1.0 + tax Rate) | "watermelon" -> 3.49 * (1.0 + tax Rate)
Explanation: The most straightforward way to calculate effective tax rate is to divide the income tax expense by the earnings (or income earned) before taxes. Tax expense is usually the last line item before the bottom line—net income—on an income statement.