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Government G levies an income tax with the following rate structure: Percentage Rate 6% 10 20 28 Bracket Income from -0- to $30,000 Income from
Government G levies an income tax with the following rate structure: Percentage Rate 6% 10 20 28 Bracket Income from -0- to $30,000 Income from $30,001 to $70,000 Income from $70,001 to $200,000 Income in excess of $200,000 Required: a. Taxpayer A's taxable income is $150,400. Compute A's tax and average tax rate. What is A's marginal tax rate? Taxpayer A Income tax Average tax rate Marginal tax rate % % b. Taxpayer B's taxable income is $435,900. Compute B's tax and average tax rate. What is B's marginal tax rate? Income tax Average tax rate Marginal tax rate Taxpayer B % %
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