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Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 30 Bracket Income from -0- to $20,000 Income
Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 30 Bracket Income from -0- to $20,000 Income from $20,001 to $75,000 Income from $75,001 to $160,000 Income in excess of $160,000 Required: a. Mr. Levi's taxable income is $34,800. Compute Mr. Levi's tax on this income as well as average and marginal tax rate. b. Ms. Jinn's taxable income is $211,600. Compute Ms. Jinn's tax on this income as well as average and marginal tax rate. Complete this question by entering your answers in the tabs below. Required A Required B Mr. Levi's taxable income is $34,800. Compute Mr. Levi's tax on this income as well as average and marginal tax rate. Note: Round your percentage answers to 2 decimal places and other answer to the nearest dollar amount. Income tax Average tax rate Marginal tax rate Mr. Levi % % < Required A Required B >
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