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Problem 02-12 (Static) (LO 2-7] Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 Bracket Income from
Problem 02-12 (Static) (LO 2-7] Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 Bracket Income from O to $20,000 Income from $20,001 to $75,000 Income from $75,001 to $160,000 Income in excess of $160,000 30 Required: a. Mr. Levi's taxable income is $69,200. Compute his tax and average tax rate. What is Mr. Levi's marginal tax rate? b. Ms. Jinn's taxable income is $184,400. Compute her tax and average tax rate. What is Ms.Jinn's marginal tax rate
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