Question
Paola is single and has taxable income of $94,825, which is taxed as follows: $10,275 10% = $ 1,027.50 ($41,775 $10,275) 12% = 3,780.00 ($89,075
Paola is single and has taxable income of $94,825, which is taxed as follows:
$10,275 10% = $ 1,027.50 ($41,775 $10,275) 12% = 3,780.00 ($89,075 $41,775) 22% = 10,406.00 ($94,825 $89,075) 24% = 1,380.00 Total tax liability $ 16,593.50 Their marginal tax rate is:
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Managerial Accounting
Authors: Ray Garrison, Eric Noreen and Peter Brewer
14th edition
978-007811100, 78111005, 978-0078111006
