Glens taxable income is $50,000 and he pays income tax of $6,864. If his income were $60,000,

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Glen’s taxable income is $50,000 and he pays income tax of $6,864. If his income were $60,000, he would pay taxes of $9,064. What is Glen’s marginal tax rate?

a. 18.23%

b. 22.00%

c. 12.00%

d. 25.00%

e. Some other amount

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Income Tax Fundamentals 2020

ISBN: 9780357108239

38th Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven Gill

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Question Posted: Aug 24, 2020 09:08 AM

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Glens taxable income is $50,000 and he pays income tax of $6,864. If his income were $60,000,

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Income Tax Fundamentals 2020

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