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Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6% Income from 0 to $30,000 10% Income from $30,001 to
Government G levies an income tax with the following rate structure:
Percentage Rate | Bracket | |
---|---|---|
6% |
| |
10% | Income from $30,001 to $70,000 | |
20% | Income from $70,001 to $200,000 | |
28% |
|
A) Taxpayer As taxable income is $150,400. Compute As tax and average tax rate. What is As marginal tax rate?
B) Taxpayer Bs taxable income is $435,900. Compute Bs tax and average tax rate. What is Bs marginal tax rate?
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