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Answer the following questions. You must show your work in order to get partial credit. See Syllabus for due date. Mr. Hoosier has gathered all
Answer the following questions. You must show your work in order to get partial credit. See Syllabus for due date. Mr. Hoosier has gathered all these data about his finances. The personal exemption is $4700. The standardized deduction for a single filer is 5000 . \begin{tabular}{|c|c|} \hline f Taxable Income is & Then tax is: \\ \hline 8000 & 10% of the amount over 0 \\ \hline 800035,000 & 800+18% of the amount over 8000 \\ \hline 500055,000 & 4850+22% of the amount over 35000 \\ \hline 000150,000 & 8850+35% of the amount over 55000 \\ \hline 200000 & 37350+37% of the amount over 150000 \\ \hline 0000 and over & 54850+45% of the amount over 200000 \\ \hline \end{tabular} Please answer each question and you must show your work in order to get partial credit. What is his marginal tax rate
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