Calculate the empty boxes on the bottom worksheet (marginal tax rate,average rate, income tax, etc.) Use the above worksheet to do so.

Chapter 3 Activity-Taxes Marginal Single, taxable Joint, taxable Hou Tax Rate income over: income over: 10% 12% $19,050 22% $38, $77 24% $165,000 32% $157,500 $315,000 35% 37% $500,000 dard Deduction Amounts (2018) Filing Status Deduction Amount $12,000 $24,000 $18,000 Married Filing Jointly lead of Household 1. Calculate the federal income tax liability, marginal tax rate, and average tax rate for each of the following scenarios. Assume the following for all scenarios: all income is traditionally earned, the maximum allowable standard deduction is taken, and no other deductions/credits are applied. Joint Taxable Inme Taxate Taxable | Income Tax | Rate- Marginal Average Margna Average Gross Income Insome S40.000 8,ovo $75,000,u0 Ran Slow $500,000 a $1,000,000 8c 2. REACTION: What do you make of your findings above? Were you surprised by any of the calculations? Do they seem fair? Should some pay more/less