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Compute the 2015 tax liability and the marginal and average tax rates for the following taxpayers. Please explain how you got the answer! Thank you
Compute the 2015 tax liability and the marginal and average tax rates for the following taxpayers. Please explain how you got the answer! Thank you
Click here to access the 2015 tax rate schedule. If required, round the tax liability the nearest dollar. When required, round the average rates to three decimal places before converting to a percentage (i.e. .67073 would be rounded to .671 and entered as 67.1%).
a. Chandler, who files single, has taxable income of $169,000.
Tax liability: | $ | |
Marginal rate: | % | |
Average rate: | % |
b. Lazare, who files as head of household, has taxable income of $59,400.
Tax liability: | $ | |
Marginal rate: | % | |
Average rate: | % |
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