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If the tax rates are 10% on the first $50,000 of taxable income, and 20% on the next $50,000, and 30% on the next
If the tax rates are 10% on the first $50,000 of taxable income, and 20% on the next $50,000, and 30% on the next $70,000, what is the tax liability for an individual with $130,000 of taxable income, what is the marginal tax rate, and what is the average fax rate? a. $10,250, 15%, and 20% b. $19,000, 25%, and 17.27% c. $11,345, 15%, and 34% d. $24,000, 30%, and 18.46%
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