10 1 Refer to the table below: 2020 Tax Data points Tax Bracket Marginal Tax Rate $0-9,875 10% eBook Print $9,876-40,125 12% $40,126-85,525 22% $85,526-163,300 24% References $163,301-207,350 32% $207,351-518,400 35% Over $518,400 37% Compute the taxes on a taxable income of $250,000. Instructions: For part a, enter your response as a whole number. For part b, round your response to one decimal place. a. What is the marginal tax rate? % b. What is the nominal tax rate?