Calculating Taxable Income Using the previous tax tobie, compute the tax liability for the individual in the scenario presented, rounding the liabulity to the mearest doliar. In addition, wse the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario. Using the previous tax table, compute the tax liabinty for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identily the marginal tax rate and average tax rate for the individual in the scenario. Eric's Tax Scenario Eric is a young professional with taxable income of $111,500 as an advertising account executive. What is Eric's total tax liability? (Note: Round your answer to the nearest cent, if necessary.) What is Eric's top marginal tax rate? What is Eric's average tax rate