3. Taxes paid for a given income level Cho is getting ready to do her taxes. She is single and lives in Dallas. Cho earned $60,000 in taxable income in 2015. She reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015 The Tax Rate Is On Annual Taxable Income... Up to $9,225 From $9,225 to $37,450 From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500 From $411,500 to $413,200 Over $413,200 (Percent) 10.0 15.0 25.0 28.0 33.0 35.0 39.6 Based on the IRS table, Cho calculates that her marginal tax rate is when her annual taxable income is $60,000 Cho calculates that she owes in income taxes for 2015 Cho then calculates that her average tax rate is , based on the annual income level and the amount of taxes she owes for 2015 After figuring out what she owes in taxes in 2015, Cho decides to ask an accountant for tax advice. The accountant claims that he has found a legal way to shelter $4,000 of taxable income from the federal government. The maximum amount that Cho is willing to pay to learn this strategy and reduce her taxable income by $4,000 is some income means finding a legal way to avoid being charged income tax on that income. For example, someone who has $50,000 in taxable income and shelters $10,000 pays income tax on only $40,000.) . (Hint: Sheltering