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Country A levies an individual income tax with the following rate structure Percentage Rate Bracket 15 25 30 Income from -0- to $20,000 Income from
Country A levies an individual income tax with the following rate structure Percentage Rate Bracket 15 25 30 Income from -0- to $20,000 Income from $20,001 to $75,000 Income from $75,001 to $160, 000 Income in excess of $160, a. Mr. LV's taxable income is $39,600. Compute his tax and average tax rate. What is Mr. LV's marginal tax rate? b. Ms. JC's taxable income is $232,000. Compute her tax and average tax rate. What is Ms. JC's marginal tax rate? Complete this question by entering your answers in the tabs below. Required ARequired B Mr. LV's taxable income is 39,600. Compute his tax and average tax rate, what is Mr. LV's marginal tax rate? (Round your percentage answer to 2 decimal places and other answer to the nearest dollar amount.) Income tax Average tax rate Marginal tax rate
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