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Introduction to taxation the income tax formula and form 1040 Tameka has taxable income of $97,075 that is taxed as follows: $9,700 x 10% =

Introduction to taxation the income tax formula and form 1040

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Tameka has taxable income of $97,075 that is taxed as follows: $9,700 x 10% = $ 970.00 = %2T X (00L'65 - SLD'6ES) 3, 573.00 0:38-31 ($84, 200 - $39,475) x 22% = 9, 839.50 ($97, 075 - $84, 200) x 24% = 3, 090.00 Total tax liability $17, 472.50 Her marginal tax rate is: Multiple Choice O 22% O 24% O 12% O 18%

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