Campbell, a single taxpayer, earns $290,000 in taxable income and $13,500 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule.)

Required:

1. How much federal tax will she owe?
2. What is her average tax rate?
3. What is her effective tax rate?
4. What is her current marginal tax rate?

How much federal tax will she owe? (Do not round intermediate calculations. Round "Federal tax" to 2 decimal places.)

Federal tax

What is her average tax rate? (Do not round intermediate calculations. Round total tax to 2 decimal places.)

Average Tax Rate
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What is her effective tax rate? (Do not round intermediate calculations. Round total tax to 2 decimal places.)

Effective Tax Rate
Choose numerator	/	Choose denominator	=
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What is her current marginal tax rate?

Marginal tax rate

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