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Post Class: Income Tax Activity Use the 2019 Tax Schedule used with the In Class Activity for any tax calculations in the following problems.
Post Class: Income Tax Activity Use the 2019 Tax Schedule used with the In Class Activity for any tax calculations in the following problems. 1. Use the tax schedule to compute the marginal tax rate beginning with a salary of $51,000 and from a 3% raise. 1040 Line(s) 1 and 8b 11a 11b Description Wages, salaries, and tips. Adjusted gross income (AGI) Standard deduction and exemption (single, nondependent) Subtract line 11a from line 8b. Taxable income BEFORE calculating the taxes, you should be able to fill in the blanks: The marginal tax rate on this additional income should fall between, Why will the marginal tax rate fall between these two values? Before Raise After Raise $51,000 $12,200 $12,200 and
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