Marginal and average tax rates Partner A, a single taxpayer, is one of two partners in a small business. As such, she receives pass-through income that is taxed at her personal tax rates. After all adjustments and deductions have been made, including the 20% qualified business incorne deduction, she is preparing to calculate her taxes owed for the year. Using the tax rale schedule given here perform the following: a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,400; $81,300; S299,000; 5499,000; $1.2 million: $1.5 million, and $1.9 million. b. Plot the average tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). What generalization can be made concerning the relationship between these variables? a. Calculate the tax liability, after-tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $14,400; S81,300; $299,000; 5499,000; S1,200,000; 51.5 million; and $1.9 million. The tax liability for earnings before taxes of $14,400 is $ 1538. (Round to the The after-tax earnings on $14,400 are $ 12862. (Round to the nearest dollar. More info The average tax rate for the $14,400 in pretax earnings is 169860% (Round Tax Rates-Single Taxpayers-2018 + + % Range of taxable income SO to $9,525 9,525 to 38,700 38,700 to 82,500 82,500 to 157,500 157.500 to 200,000 200.000 to 500,000 Over 500,000 Base tax SO 953 4,454 14,090 32,090 45.690 150,690 + (10% (12% + (2296 (24% + (32% (35% + (37% (% Tax calculation (Marginal rate x amount over base bracket) x amount over $0) x amount over 9,525) x amount over 38,700) x amount over 82,500) x amount over 157,500) x amount over 200,000) x amount over 500.000) + Print Done