Problem 1-47 (LO 1-2,1-4) Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the appropriate Tax Tables and Tax Rate Schedules a. Married taxpayers, who file a joint return, have taxable income of $25,493 b. Married taxpayers, who file a joint return, have taxable income of $47,046 (Use the tax tables to compute tax liability. For all requirements, round "Average tax rate" to 2 decimal places.) Tax liability Marginal tax rate Average tax rate a. b. 25,000 25,000 25,050 2,813 2,622 2,813 2,731 25,050 25,100 2,819 2,628 2,819 2,737 25,100 25,150 2,825 2,634 2,825 2,743 25,150 25,200 2,831 2,6402,2,749 25,200 25,250 2,837 ,646 2,837 2,755 25,250 25,300 2,843 2,652 2,843 2,761 25,300 25,350 2,849 2,658 2,849 2,767 25,350 25,400 ,855 2,664 2,855 2,773 25,400 25,450 ,86 2,670 2,861 2,779 25,450 25,500 2,867 2,676 2,8672,785 25,500 25,550 2,873 2,6822,873 2,791 25,550 25,600 2,879 2,688 2,879 2,797 25,600 25,650 2,885 2,6942,85 2,803 25,650 25,700 ,8 2,700 2,891 2,809 25,700 25,750 2,897 2,706 2,87 2,815 0 25,750 25,800 2,903 2,72,03 2,821 25,800 25,850 2,909 ,718 ,909 2,827 25,850 25,900 2,915 2,7242,915 2,833 25,900 25,950 2,92 2,730 ,9 2,839 25,950 26,000 2,927 2,736 2,927 2,845 At But Single Married Married Head of filing fling a jointlysepa house- ratelyhold least less Your tax is 45,000 5,0225.8455,13 5,050 45,100 5.856 5,028 5.856 5,137 45,100 45,150 5867 5,034 5.867 5,143 45,150 45,200 5878 5040 5,878 5,14 5,155 5,200 45,250 5,250 45300 5900 5,052 5.900 5,161 45,300 45,350 59115,058 5.9115,167 5,064 5.9225,173 5933 5,070 5.933 5,179 5,076 5.944 5,185 5,350 45,400 45,450 45.500 5,500 45,550 5955 029555,191 45,550 45,600 5.966 5,088 5966 5,197 5,600 45,650 5.977 5,094 5.977 5,203 45,650 45,700 5.988 5,100 5.988 5,209 45,700 45,750 5999 5,106 5.999 5,215 5,750 45,800 6010 5,112 6010 5,221 45,800 45,850 6021 5,118 6.021 5,227 45,850 45,900 6032 5,124 6.032 5,233 45,900 45,95063 5,130 6.043 5,2 5,950 46,000 6054 136 6054 5 46,000 46,000 46,050 606 5,142 6065 5,251 46,050 46,100 6.076 5,148 6.076 5,257 46,100 46,150 6087 5,154 6.087 5,263 46,150 46,200 6098 5,160 6.098 5,269 46,200 46,250 6109 5,166 6,109 5,275 46,250 46,300 6120 5,172 6,120 5,281 46,300 46,350 6.131 5,178 6131 5,287 46,350 46,400 6.142 5,184 6,142 5,293 6,400 46,450 6,153 5,190 6,153 5,299 46,450 46,500 6164 5,196 6,164 5,305 46,500 46,550 6175 5,202 6,175 5,311 46,550 46,600 6.186 5,208 6,186 5,317 6,600 46,650 6197 5,214 6,197 5,323 46,650 46,700 6.208 5,220 6.208 5,329 46,700 46,7506219 5,226 6.219 5,33 46,750 46,8006230 5,232 6.230 5,34 6,800 46,850 4 5,238 6.241 5,347 46,850 46,900 5 5,244 6.252 5,353 6,900 46,9506.263 5,250 6.263 5,3 46,950 47,000 6274 5.256 6274 5,365 47,000 47,000 47,050 6.285 5,262 6285 5,371 47,050 47,100 6296 5,268 6296 5,377 47,100 47,150 6307 5,274 6307 5,383 47,150 47,2006318 5,280 6.318 5,389 47,200 47.250 6329 5,286 6.329 5,395 47,250 47,300 6340 5,292 6.340 5,401 47,300 47,350 6351 5,298 6.35 5,407 7350 47,400362 5,304 6.362 5,41 7400 47.450 6.373 5,310 6.373 5,419 47,450 47,500 6.384 5,316 6.3845,425 47,500 47,550 6395 5,322 6.395 5,431 47,550 47,600 6406 5,328 6406 5,437 47,600 47,650 6417 5,334 6.417 5,443 47,650 47.700 6428 5,340 6.428 5,449 7,700 47,7506439 5,3466439 5,455 47,750 47,800 6450 5,352 6.450 5,461 47,800 47850 6461 5,358 6461 5,467 47,850 47,900 6472 5,364 6472 5,473 7,900 47,9506483 5,37O 6.483 5,479 7,950 48,000 6494 5,376 6.494 $38,700 $82,500 $157,500 $200,000 $500,000 $9,525 $38,700 $82,500 $157,500 200,000 $500,000 $952.50 plus 12% of the excess over $9,525 $4,453.50 plus 22% of the excess over $38,700 $14,089.50 plus 24% of the excess over $82,500 $32,089.50 plus 32% of the excess over $157,500 $45,689.50 plus 35% of the excess over $200,000 $150,689.50 plus 37% of the excess over $500,000 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over:But not over: The tax is: 19,050 $77,400 165,000 $315,000 $400,000 $600,000 $0 10% of taxable income $19,050 $77,400 165,000 $315,000 $400,000 $600,000 $1 ,905.00 plus 1 2% of the excess over $ 1 9,050 $8,907.00 plus 22% of the excess over $77,400 $28,179.00 plus 24% of the excess over $165,000 $64,179.00 plus 32% of the excess over $315,000 $91,379.00 plus 35% of the excess over $400,000 $ 1 6 1 ,379.00 plus 37% of the excess over $600,000 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $9,525 $38,700 $82,500 $157,500 $200,000 $300,000 $0 10% of taxable income $9,525 $38,700 $82,500 $157,500 $200,000 $300,000 $952.50 plus 12% of the excess over $9,525 $4,453.50 plus 22% of the excess over $38,700 $14,089.50 plus 24% of the excess over $82,500 $32,089.50 plus 32% of the excess over $157,500 $45,689.50 plus 35% of the excess over $200,000 $80,689.50 plus 37% of the excess over $300,000 Schedule Z-Head of Household If taxable income is over But not over: The tax is: $13,600 $51,800 $82,500 10% of taxable income $13,600 $51,800 $82,500 $157,500 $1 ,360.00 plus 1 2% of the excess over $ 1 3,600 $5,944.00 plus 22% of the excess over $51,800 $12,698.00 plus 24% of the excess over $82,500 $30,698.00 plus 32% of the excess over $157,500 $44,298.00 plus 35% of the excess over $200,000 $157,500 $200,000 $500,000 $200,000 $500,000 $149,298.00 plus 37% of the excess over $500,000 0 0