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Patricia has taxable income of $40,000 on which she pays income tax of $5,778. If Patricia's taxable income increases by $2,000, she will pay an
Patricia has taxable income of $40,000 on which she pays income tax of $5,778. If Patricia's taxable income increases by $2,000, she will pay an additional tax of $500. What is Patricia's marginal tax rate?
a.15.00 percent
b.15.32 percent
c.25.00 percent
d.14.84 percent
e.None of these choices are correct.
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