Question
In the current year, Mary, who is single, has gross income of $200,000 (no exclusions), adjusted gross income of $150,000, and taxable income of $100,000.
In the current year, Mary, who is single, has gross income of $200,000 (no exclusions), adjusted gross income of $150,000, and taxable income of $100,000. She is in the 24% tax bracket and her total tax liability is $18,000.What is Mary's marginal tax rate for the year?
24%
18%
12%
9%
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
