CHAPTER 2: PROBLEM 4 Taxable Income $315,000 Table 2.3 Taxable Income Taxable Income (cont) Tax Rate 0 50,000 15% 50,001 75,000 25% 75,001 100,000 34% 100,001 335,000 39% 335,001 10,000,000 34% 10,000,001 15,000,000 35% 15,000,001 18,333,333 38% 18,333,334 + 35% Income Taxes = Average Tax Rate = Marginal Tax Rate = (Note: No formula needed. Just input the correct rate from the Tax Rate column.)