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Refer to the 2023 individual rate schedules in Appendix C. Required: a. What are the tax liability, the marginal tax rate, and the average tax

image text in transcribedimage text in transcribed Refer to the 2023 individual rate schedules in Appendix C. Required: a. What are the tax liability, the marginal tax rate, and the average tax rate for a married individual filing separately with $42,500 taxable income? b. What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $150,500 taxable income? c. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household individual with $275,000 taxable income? d. What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $630,000 taxable income? Complete this question by entering your answers in the tabs below. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household individual with $275,000 taxable income? Note: Do not round your intermediate computations. Round "Tax liability" to the nearest whole dollar and "Average tax rate" to 2 decimal places. APPENDIX C 2023 Income Tax Rates INDIVIDUAL TAX RATES Refer to the 2023 individual rate schedules in Appendix C. Required: a. What are the tax liability, the marginal tax rate, and the average tax rate for a married individual filing separately with $42,500 taxable income? b. What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $150,500 taxable income? c. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household individual with $275,000 taxable income? d. What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $630,000 taxable income? Complete this question by entering your answers in the tabs below. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household individual with $275,000 taxable income? Note: Do not round your intermediate computations. Round "Tax liability" to the nearest whole dollar and "Average tax rate" to 2 decimal places. APPENDIX C 2023 Income Tax Rates INDIVIDUAL TAX RATES

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