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Marginal tax rates Using the tax rate schedule given here, perform the following: a. Find the marginal tax rate for the following levels of sole
Marginal tax rates Using the tax rate schedule given here, perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $13,800; $60,000; $89,700; $160,000; $244,000; $457,500; and $1 million. b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis). *** a. The marginal tax rate for earnings before taxes of $13,800 is 12 %. (Round to the nearest integer.) The total tax liability for earnings before taxes of $13,800 is $ 1,459. (Round to the nearest dollar.) The marginal tax rate for earnings before taxes of $60,000 is%. (Round to the nearest integer.)
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