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8. A firm has $225,000 of taxable income. Based on the tax schedule below: a) What is the firms Marginal tax rate? b) What is

8. A firm has $225,000 of taxable income. Based on the tax schedule below: a) What is the firms Marginal tax rate? b) What is the firms Average tax rate?(show your work)

Taxable income >= Taxable income <= Tax rate
0 50,000 15%
50,001 75,000 25%
75,001 100,000 34%
100,001 335,000 39%
335,001 10,000,000 34%
10.000.001 15,000,000 35%
15,000,001 18,333,333 38%
18,333,334 -------------- 35%

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