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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
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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