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02-10 (Static) [LO 2-7] Government G levies an income tax with the following rate structure: Percentage Rate. 6% 10 20 28 Bracket Income from -0-
02-10 (Static) [LO 2-7] Government G levies an income tax with the following rate structure: Percentage Rate. 6% 10 20 28 Bracket Income from -0- to $30,000 Income from $30,001 to $70,000 Income from $70,001 to $200,000 Income in excess of $200,000 Required: a. Taxpayer A's taxable income is $119,400. Compute A's tax and average tax rate. What is A's marginal tax rate? b. Taxpayer B's taxable income is $383,900. Compute B's tax and average tax rate. What is B's marginal tax rate? Complete this question by entering your answers in the tabs below. Required A Required B Taxpayer A's taxable income is $119,400. Compute A's tax and average tax rate. What is A's marginal tax rate? (Round your percentage answers to 2 decimal places.) Income tax Average tax rate Marginal tax rate Taxpayer A % % Required A Required B > Problem 02-10 (Static) [LO 2-7] Government G levies an income tax with the following rate structure: Percentage Rate 6% 10 Bracket Incone from -0- to $30,000 Incone from $30,001 to $70,000 20 28 Incone from $70,001 to $200,000 Incone in excess of $200,000 Required: a. Taxpayer A's taxable income is $119,400. Compute A's tax and average tax rate. What is A's marginal tax rate? b. Taxpayer B's taxable income is $383,900. Compute B's tax and average tax rate. What is B's marginal tax rate? Complete this question by entering your answers in the tabs below. Required A Required B Taxpayer B's taxable income is $383,900. Compute B's tax and average tax rate. What is B's marginal tax rate? (Round your percentage answers to 2 decimal places.) Income tax) Average tax rate Marginal tax rate Taxpayer B % %
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