2. Calculating tax liabilities Part 1 Aa Aa Calculating Taxable Income Taxable income $1 $9,075 $9,076 $36,900 $36,901 $89,350 25.0% $89,351-$186,350 28.0% $186,351-$405,100 33.0% $405,101-$406,750 35.0% Over $406,751 Rate 10.0% 15.0% Using the tax table shown at the left, 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 Chloe and Clark. 39.6% Chloe's Tax Scenario Clark's Tax Scenario Chloe is a young professional who lives in downtown San Francisco. She has taxable income of $96,235 as an advertising account executive for Charles Underwood Agency Inc. Clark is a young professional who lives in downtown Seattle. He has taxable income of $63,500 as a medical sales rep for Frasier-dool Inc. What is Chloe's tax liability? What is Clark's tax liability? What is Chloe's top marginal tax rate? What is Clark's top marginal tax rate? What is Chloe's average tax rate? What is Clark's average tax rate? Fiash Player WIN 32,0,0,142 03 3.34.1 2004-2016 Aolia. All rights reserved