7. Problem 3.08 (Personal Taxes) eBook Problem Walk Through Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $267,000. Do not round intermediate calculation a. What is their federal tax liability? Round your answer to the nearest dollar. b. What is their marginal tax rate? Round your answer to the nearest whole number. cWhat is their average tax rate? Round your answer to two decimal places. Table 3.5 2018 Individual Tax Rates Single Individuals You Pay This Amount Average Tax Rate at Top of Plus This Percentage on the Excess over the Base If Your Taxable on the Base of the (Marginal Rate) 10.0 % Bracket Income Is Bracket Up to $9,525 $9,525-$38,700 $38,700-$82,500 $82,500-$157,500 $157,500-$200,000 $200,000-$500,000 Over $500,000 $0.00 10.0 % 952.50 12.0% 11.5 % 17.1 % 20.4 % 22.0 % 24.0 % 4,453.50 14,089.50 32,089.50 32.0 % 22.8% 30.1 % 35.0 % 45,689.50 37.0 % 37.0 % 150,689.50 Married Couples Filing Joint Returns You Pay This Amount Plus This Percentage on Average Tax Rate at Top of the Excess over the Base If Your Taxable on the Base of the (Marginal Rate) Bracket Bracket Income Is $0.00 10.0 % 10.0 % Up to $19,050 $19,050-$77,400 $77,400-$165,000 $165,000-$315,000 $315,000-$400,000 $400,000-$600,000 Over $600,000 1,905.00 12.0% 11.5% 17.1 % 20.4 % 8,907.00 22.0% 24.0% 28,179.00 32.0 % 22.8% 64,179.00 26.9 % 91,379.00 161,379.00 35.0% 37.0 % 37.0 % NI aDe