Figure out how much income tax each of the following individuals owes. The marginal tax rates are structured as follows:

• income up to $42,350 is taxed at 15 percent;

• income from $42,351 to $61,400 is taxed at 28 percent;

• income between $61,401 to $ 128,1 00 is taxed at 31 percent.

The different rates apply to the different segments of one's income.

Taxable Income Tax Due Jim: $42,000

..

Michael: $98,750 Susan: $24,000 Kate: $1 00,520 !:·