Complete this question by entering your answers in the tabs below. Required A Required B Required C What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $198,200 taxable income? (Do not round your intermediate computations. Round final "Tax liability" to the nearest whole dollar and "Average tax rate" to 2 decimal places.) Tax liability % Marginal tax rate Average tax rate % Required A Required C > Complete this question by entering your answers in the tabs below. Required A Required B Required C What are the tax liability, the marginal tax rate, and the average tax rate for a head of household with $447,300 taxable income? (Round final "Tax liability" to the nearest whole dollar and "Average tax rate" to 2 decimal places.) Tax liability Marginal tax rate % Average tax rate Required B Required C Appendix C 2018 Income Tax Rates INDIVIDUAL TAX RATES Married Filing Jointly and Surviving Spouse If taxable income is: The tax is: Not over $19,050 Over $19,050 but not over $77,400 Over $77,400 but not over $165,000 10% of taxable income $1,905.00 12% of excess over $19,050 $8,907.00 22% of excess over $77,400 $28,179.00+24% of excess over $165,000 $64,179.00 32% of excess over $315,000 $91,379.00+35% of excess over $400,000 $161,379.00 37% of excess over $600,000 Over $165,000 but not over $315,000 Over $315,000 but not over $400,000 Over $400,000 but not over $600,000 Over $600,000 Married Filing Separately If taxable income is: The tax is: 10% of taxable income $952.5012% of excess over $9,525 4,453.5022% of excess over $38,700 $14,089.50+24% of excess over $82,500 $32,089.50 32% of excess over $157,500 $45,689.50+ 35% of excess over $200,000 $80,689.50+37% of excess over $300,000 Not over $9,525 Over $9,525 but not over $38,700 Over $38,700 but not over $82,500 Over $82,500 but not over $157,500 Over $157,500 but not over $200,000 Over $200,000 but not over $300,000 Over $300,000 Heads of Household If taxable income is: The tax is: Not over $13,600 Over $13,600 but not over $51,800 Over $51,800 but not over $82,500 Over $82,500 but not over $157,500 Over $157,500 but not over $200,000 Over $200,000 but not over $500,000 Over $500,000 10% of taxable income $1,360.00 12% of excess over $13,600 $5,944.00 22% of excess over $51,800 $12,698.00 + 24% of excess over $82,500 $30,698.00+32% of excess over $157,500 $44,298.00 +35% of excess over $200,000 $149,298.00 + 37% of excess over $500,000 Appendix C 2018 Income Tax Rates A-5 Single If taxable income is: The tax is: Not over $9,525 10% of taxable income Over $9,525 but not over $38,700 $952.5012% of excess over $9,525 Over $38,700 but not over $82,500 $4,453.50 22% of excess over $38,700 Over $82,500 but not over $157,500 $14,089.50 24% of excess over $82,500 $32,089.50 +32% of excess over $157,500 Over $157,500 but not over $200,000 Over $200,000 but not over $500,000 $45,689.50+35% of excess over $200,000 Over $500,000 $150,689.50 +37% of excess over $500,000 ESTATE AND TRUST TAX RATES If taxable income is: The tax is: Not over $2,550 10% of taxable income Over $2,550 not over $9,150 $255+24% of the excess over $2,550 Over $9,150 not over $12,500 $1,83935% of the excess over $9,150 37% of the excess over $12,500 Over $12,500 $3,011.50 Visit Principles of Taxation for Business and Investment Planning in Connect