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Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant inform

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Mary Jarvis is a single individual who is working on filing her tax return for the previous year. She has assembled the following relevant inform . She received $73,000 in salary. She received $15,500 of dividend income. . She received $4,100 of interest income on Home Depot bonds. She received $25,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $10,000. . She received $8,000 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $5,700. Mary only has allowable itemized deductions of $5,700, so she will take the standard deduction of $12,000 will be deducted from her gros income to determine her taxable income. Assume that her tax rates are based on Table 3.5. a. What is Mary's federal tax liability? Enter your answer as a positive value. Do not round intermediate calculations. Round your answert nearest cent. $ b. What is her marginal tax rate? Do not round intermediate calculations. Round your answer to one decimal place. % c. What is her average tax rate? Do not round intermediate calculations. Round your answer to two decimal places. % Table 3.5 2018 Individual Tax Rates Single Individuals If Your Taxable Income is Up to $9,525 $9,525 - $38,700 $38,700 - $82,500 $82,500 - $157,500 $157,500 - $200,000 $200,000 - $500,000 Over $500,000 You Pay This Amount Plus This Percentage on Average Tax on the Base of the the Excess over the Base Rate at Top of Bracket (Marginal Rate) Bracket $0.00 10.0% 10.0% 952.50 12.0% 11.5% 4,453.50 22.0% 17.1% 14,089.50 24.0% 20.4% 32,089.50 32.0% 22.8% 45,689.50 35.0% 30.1% 150,689.50 37.0% 37.0% 1 Married couples Filing Joint Returns If Your Taxable Income is Up to $19,050 $19,050 - $77,400 $77,400 - $165,000 $165,000 - $315,000 $315,000 - $400,000 $400,000 - $600,000 Over $600,000 You Pay This Amount Plus This Percentage on Average Tax on the Base of the the Excess over the Base Rate at Top of Bracket (Marginal Rate) Bracket $0.00 10.0% 10.0% 1,905.00 12.09 11.5% 8,907.00 22.0% 17.1% 28,179.00 24.0% 20.4% 64,179.00 32.0% 22.8% 91,379.00 35.0% 26.9% 161,379.00 37.0% 37.0%

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