Click here to read the eBook: Income Taxes PERSONAL TAXES Susan and Stan Britton are a married couple who file a joint income tax re turn, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $418,000. Round your answers to two decimal places a. What is their federal tax liability? b. What is their marginal tax rate? c. What is their average tax rate? Table 3.5 2015 Individual Tax Rates Single Individuals Average Tax Rate at Plus This Percentage on the Excess over the You Pay This Amount on the Base of the Bracket If Your Taxable Base (Marginal Rate)Top of Bracket 10.0% 13.8 20.4 Income Is 10.0% Up to S9,225 $9,225-$37,450 $37,450-$90,750 $90,750-$189,750 $189,750-S411,500 S411,500-S$413,200 Over $413,200 922.50 5,156.25 18,481.25 46,075.25 119,401.25 119,996.25 25.0 24.3 28.0 29.0 33.0 29.0 39.6 39.6 Married Couples Filing Joint Returns Average Tax Rate at Topof Bracket 10.0% 13.8 Plus This Percentage on the Excess over the You Pay This Amount on the If Your Taxable Base (Marginal Rate) 10.0% Base of the Bracket Income Is Up to $18,450 $18,450-$74,900 $74,900-S151,200 S151,200-$230,450 S230,450-$411,500 $411,500-$464,850 Over S464,850 1,845.00 10,312.50 29,387.50 51,577.50 111,324.00 129,996.50 15.0 19.4 25.0 28.0 22.4 27.1 28.0 33.0 35.0 39.6 39.6