Problem 2-41 (LO 2-6)

Determine the average tax rate and the marginal tax rate for each of the following instances: (When computing average tax rate, the appropriate Tax Tables or Tax Rate Schedules information is given in bold for each situation.) Round "Average tax rate" to 1 decimal place.)

The appropriate Tax Tables or Tax Rate Schedules information is given in bold for each situation.

a. A married couple filing jointly with taxable income of $32,991. If taxable income is at least 32,950 but less than 33,000 and you are married filing jointly your tax is 4,019

b. A married couple filing jointly with taxable income of $192,257. If taxable income is over $151,900 but not over $231,450 the tax is: $29,517.50 plus 28% of the excess over $151,900

	Average tax rate		Marginal tax rate
a.		____________%		____________%
b.		____________%		____________%

c. A married couple filing separately, one spouse with taxable income of $43,885 and the other with $56,218.

If taxable income is 43,850 - 43,900 your tax is 6,740 for married filing separately

If taxable income is 56,200 - 56,250 your tax is 9,828 for married filing separately

	Spouse having taxable income of $43,885		Spouse having taxable income of $56,218
Average tax rate		____________%		____________%
Marginal tax rate		____________%		____________%

d. A single person with taxable income of $79,436. If Taxable income is 79,400 - 79,450 your tax is 15,628 for single

e. A single person with taxable income of $297,784. If taxable income is over $190,150 but not over $413,350 the tax is $46,278.75 plus 33% of the excess over $190,150 for single.

f. A head of household with taxable income of $96,592. If Taxable income is 96,550 - 96,600 your tax is 18,441 for head of household

g. A qualifying widow with taxable income of $14,019. If taxable income is over: $0 But not over: $18,550The tax is: 10% of taxable income for qualifying window

h. A married couple filing jointly with taxable income of $11,216. If taxable income is 11,200 - 11,250 your tax is 1,123 for married filing jointly

	Average tax rate		Marginal tax rate
d.		____________%		____________%
e.		____________%		____________%
f.		____________%		____________%
g.		____________%		____________%
h.		____________%		____________%