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Patricia has taxable income of $40,000 on which she pays income tax of $5,935. If Patricias taxable income increases by $2,000, she will pay an
Patricia has taxable income of $40,000 on which she pays income tax of $5,935. If Patricias taxable income increases by $2,000, she will pay an additional tax of $500. What is Patricias marginal tax rate?
a. | 15.00 percent |
b. | 14.84 percent |
c. | 15.32 percent |
d. | 25.00 percent |
e. | None of the above |
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