Homework Answers
Tax Liability = 9075*10% + 27825*15% + 52,450*25% + 5885*28%
= $19,841.55
i.e. $19,842
Marginal tax rate is the rate applicable on one dollar of additional income
= 28%
Average rate = Total Tax/Total income
= 19842/95235
= 20.83%
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Please answer questions that I filled in also. Thank
you.
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DROP DOWN OPTIONS
1. (28%,19.50%,25%)
2. (19.50%, 20.80%,29.20)
3. (25%, 15%,16.67%)
4. (16.67%, 29.20%, 18.15%
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Please answer questions that I filled in also. Thank
you.
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DROP DOWN OPTIONS
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2. (19.50%, 20.80%,29.20)
3. (25%, 15%,16.67%)
4. (16.67%, 29.20%, 18.15%
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