Calculation of Tax Liability, Marginal, Average and Effective Tax Rates (LO. 1) Susan is single with a gross income of $120,000 and a taxable income of $98,000. In calculating gross income, she properly excluded $10,000 of tax-exempt interest income. paid on the next dollar of income v The marginal tax rate is the rate of tax that would a. The average tax rate is the rate of tax paid on the total tax base v b. The effective tax rate is the rate of tax paid on all income v C. Instructions: Do not round intermediate computations. Round final answers to two decimal places. Refer to the tax rate schedule for calculations. V %, d. Susan's total tax is $ 17,693.76 X . Her marginal tax rate is 24 16.38 V %. 18.05 X %, and, effective tax rate is average tax rate is