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Bob, single, has total income of $120,000 in 2020. His taxable income is $100,000, and his tax liability is $18,079.50. Bob's average tax rate is
Bob, single, has total income of $120,000 in 2020. His taxable income is $100,000, and his tax liability is $18,079.50. Bob's average tax rate is . , and his effective tax rate is . . Bob's marginal tax rate is . . Note: Enter your answer as a decimal rounded up to three places (e.g. 23.175231% would be entered as .232 and 39% would be entered as .390). Do not enter the "%" sign.
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