$2.$ Calculating tax liabilities

Calculating Taxable Income

Taxable income

Rate

$$1$ $$9,07510\mathrm{.}0\%$

$$9,076$ $$36,90015\mathrm{.}0\%$

$$36,901$ $$89,35025\mathrm{.}0\%$

$$89,351$ $$186,35028\mathrm{.}0\%$

$$186,351$ $$405,10033\mathrm{.}0\%$

$$405,101$ $$406,75035\mathrm{.}0\%$

Over $$406,75139\mathrm{.}6\%$

Using the previous tax table, compute the tax liability for each individual in the scenarios presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for both Tracy and Ben.

Tracy$$s Tax Scenario

Tracy is a young professional who lives in downtown Chicago. She has taxable income of $$92,235$ as an advertising account executive for Taggart Goods Corp.

What is Tracy$$s tax liability?

$

What is Tracy$$s top marginal tax rate?

What is Tracy's average tax rate?

Ben$$s Tax Scenario

Ben is a young professional who lives in downtown Atlanta. He has taxable income of $$63,500$ as a medical sales rep for Tull Cybermatic Corp.

What is Ben$$s tax liability?

$

What is Ben$$s top marginal tax rate?

What is Ben's average tax rate?