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Jonah, a single taxpayer, reports $108,000 in taxable income. Answer each of the following four questions: 1. Using the U.S. tax rate schedule for year
Jonah, a single taxpayer, reports $108,000 in taxable income. Answer each of the following four questions: 1. Using the U.S. tax rate schedule for year 2021, how much federal tax will he owe? (2 points) 2. What is Jonah's marginal tax rate? (2 points) 3. What is Jonah's average tax rate? (2 points) 4. Please provide the tax savings if Jonah makes a charitable donation at the end of the year resulting in a $26,000 tax deduction. (3 points)
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