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1) Tax Rate Please refer to the following tax schedule. Taxable Income $ 0-50,000 $ 50,001-75,000 15% 25% 34% $ 75,001-100,000 $100,001-335,000 39% If the
1) Tax Rate Please refer to the following tax schedule. Taxable Income $ 0-50,000 $ 50,001-75,000 15% 25% 34% $ 75,001-100,000 $100,001-335,000 39% If the Card Depot Inc. had $300,000 of taxable income last year selling greeting cards, what was the average tax rate? What was the marginal tax rate? a. AVERAGE TAX RATE= 39.0 %, MARGINAL TAX RATE= 39% b. AVERAGE TAX RATE = 33.4%, MARGINAL TAX RATE=39% c. AVERAGE TAX RATE= 33.4%, MARGINAL TAX RATE= 34% d. AVERAGE TAX RATE= 35.8%, MARGINAL TAX RATE=34% bod
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