2. Calculating tax liabilities Calculating Taxable Income Taxable income Rate $1 $9,075 10.0% 15.0% 25.0% $9,076 - $36,900 $36,901 - $89,350 $89,351 - $186,350 $186,351 - $405,100 28.0% 33.0% $405,101 - $406,750 35.0% Over $406,751 39.6% Chloe's Tax Scenario Chloe is a young professional who lives in downtown San Francisco. She has taxable income of $90,735 as an advertising account executive for Charles Underwood Agency Inc. What is Chloe's tax liability? What is Chloe's top marginal tax rate? What is Chloe's average tax rate? Clark's Tax Scenario Clark is a young professional who lives in downtown Seattle. He has taxable income of $64,000 as a medical sales rep for Frasier-dool Inc. What is Clark's tax liability? What is Clarks top marginal tax rate? What is Clark's average tax rate? Gr Now