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

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

• $0 to $8,925 = 10% rate

• $8,926 to $36,250 = 15%

• $36,251 to $87,850 = 25%

• $87,851 to $183,250 = 28%

• $183,251 to $398,350 = 33%

• $398,351 to $400,000 = 35%

• $400,001 and above = 39.6%

The different rates apply to different portions of one’s income.

Name Taxable Income Tax Due Jamie $42,000 _______ Miguel $98,750 _______ Suzette $24,000 _______ Kimu $100,520 _______

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