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Please help with a and c on this Finance 3100 question. Question: Joe and Jane Keller are a married couple who file a joint income
Please help with a and c on this Finance 3100 question.
Question: Joe and Jane Keller are a married couple who file a joint income tax return, where the tax rates are based on Table 3.5. Assume that their taxable income this year was $350,000.
3-8: MVA and EVA Problem 3-08 Personal Taxes Joe and Jane Keller are a married couple who file a joint income tax return, where the tax rates are based on Table 3.5. Assume that their taxable income this year was $350,000. a. What is their federal tax liability? Round your answer to the nearest cent. $ 50,765 b. What is their marginal tax rate? Round your answer to 1 decimal place. 33.0 % c. What is their average tax rate? Round your answer to 2 decimal places. 4,801. 96 4,801.1 %Step by Step Solution
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