Melodies taxable income is $39,000 and she pays income tax of $4,486. If Melodies taxable income increases

Question:

Melodie’s taxable income is $39,000 and she pays income tax of $4,486. If Melodie’s taxable income increases to $43,000, she would pay income taxes of $5,256. What is Melodie’s marginal tax rate?
a. 17.00%
b. 22.00%
c. 19.25%
d. 12.00%
e. Some other amount

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Income Tax Fundamentals 2021

ISBN: 9780357141366

39th Edition

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

Question Posted: