Calculating Taxes Terri Simmons is single and had $289,000 in taxable income. Using the rates from Table 2.3 in the chapter, calculate her income taxes. What is the average tax rate? What is the marginal tax rate?

Taxable Income Tax Rate $ 0 - 9,525 10% 12 22 24 9,525 38,700 38,700 82,500 82,500 - 157,500 157,500 - 200,000 200,000 500,000 500,000 + 32 35 37