$ $ Federal Income Tax Bracket 2020 (Single) Bracket Tax rate $ 9,875 10% 9,875 40,125 12% 40,125 85,525 22% 85,525 163,300 24% 163,300 207,350 32% 207,350 518,400 35% 518,400 37% Given the table above, calculate the taxes and average tax rate an individual with $168,000 2 income has to pay. 3 -4 Taxable income 15 Marginal tax rate 16 17 18 19 20 21 22 23 24 25 26 Tax on the bottom of marginal tax bracket 27 Amount of income in marginal tax bracket 28 Total tax 29 Average tax rate 30 31 32 33 34 35