Calculating Taxable Income Taxable income Rate $0 $9,525 10.0% 12.0% $9,526 - $38,700 $38,701 - $82,500 22.0% 24.0% $82,501 $157,500 $157,501 $200,000 $200,001 $500,000 32.0% 35.0% $500,001 or more 37% Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario. Musashi's Tax Scenario Musashi is a professional with taxable income of $79,700. What is Musashi's total tax liability? (Note: Round your answer to the nearest cent, if necessary.) What is Musashi's top marginal tax rate? What is Musashi's average tax rate