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Jason lives in New Brunswick and has a taxable income of $100,000. The federal and provincial income tax rates are graduated as follows: Federal 15%
Jason lives in New Brunswick and has a taxable income of $100,000. The federal and provincial income tax rates are graduated as follows: Federal 15% on the first $50,197 20.5% on the next $50,195 26% on the next $55,233 29% on the next $66,083 33% over $221,708 Provincial 9.40% on the first $44,887 14.82% on the next $44,888 16.52% on the next $56,180 17.84% on the next $20,325 20.3% on the amount over $166,280 Combining federal and provincial income taxes, Jason has paid a total of $30,689 in income taxes. What is Jason's average tax rate and marginal tax rate? TUDT2ZzeE9GcTM2N2VrndSeUNBQT09 a. O Average tax rate = 30.69%; marginal tax rate = 37.02% b. O Average tax rate = 30.76%; marginal tax rate = 43.84% c. O Average tax rate = 29.42%; marginal tax rate = 43.84% d. O Average tax rate = 29.42%; marginal tax rate = 42.52%
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