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Do No Harm: 14 Attempts: 3. Taxes paid for a given income level Gilberto is getting ready to do his taxes. He is single and

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Do No Harm: 14 Attempts: 3. Taxes paid for a given income level Gilberto is getting ready to do his taxes. He is single and lives in Philadelphia. Gilberto earned $250,000 in taxable income in 2015. He reviews the following table, which shows the IRS tax rates for a single taxpayer in 2015. On Annual Taxable Income... Up to $9,225 From $9,225 to $37,450 From $37,450 to $90,750 From $90,750 to $189,300 From $189,300 to $411,500 From $411,500 to $413,200 Over $413,200 The Tax Rate Is... (Percent) 10.0 15.0 25.0 28.0 33.0 35.0 39.6 Based on the IRS table, Gilberto calculates that his marginal tax rate iswhen his annual taxable income is $250,000. 0 Type here to search

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