Refer to the individual rate schedules in Appendix C FOR 2021. Required: What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $70,900 taxable income? What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $190,300 taxable income? What are the tax liability, the marginal tax rate, and the average tax rate for a head of household with $465,300 taxable income?

APPENDIX C 2021 Income Tax Rates INDIVIDUAL TAX RATES Married Filing Jointly and Surviving Spouse If taxable income is The tax is Not over $19,900 10% of taxable income Over $19,900 but not over $81,050 $1,990.00 + 12% of excess over $19,900 Over $81,050 but not over $172,750 $9,328.00 + 22% of excess over $81,050 Over $172,750 but not over $329,850 $29,502.00 + 24% of excess over $172,750 Over $329,850 but not over $418,850 $67,206.00 + 32% of excess over $329,850 Over $418,850 but not over $628,300 $95,686.00 + 35% of excess over $418,850 Over $628,300 $168,993.50 + 37% of excess over $628,300 Married Filing Separately If taxable income is The tax is Not over $9,950 10% of taxable income Over $9,950 but not over $40,525 $995.00 + 12% of excess over $9,950 Over $40,525 but not over $86,375 $4,664.00 + 22% of excess over $40,525 Over $86,375 but not over $164,925 $14,751.00 + 24% of excess over $86,375 Over $164,925 but not over $209,425 $33,603.00 + 32% of excess over $164,925 Over $209,425 but not over $314,150 $47,843.00 + 35% of excess over $209,425 Over $314,150 $84,496.75 + 37% of excess over $314,150 Head of Household If taxable income is The tax is Not over $14,200 10% of taxable income Over $14,200 but not over $54,200 $1,420.00 + 12% of excess over $14,200 Over $54,200 but not over $86,350 $6,220.00 + 22% of excess over $54,200 Over $86,350 but not over $164,900 $13,293.00 + 24% of excess over $86,350 Over $164,900 but not over $209,400 $32,145.00 + 32% of excess over $164,900 Over $209,400 but not over $523,600 $46,385.00 + 35% of excess over $209,400 Over $523,600 $156,355.00 + 37% of excess over $523,600 Single If taxable income is The tax is Not over $9,950 10% of taxable income Over $9,950 but not over $40,525 $995.00 + 12% of excess over $9,950 Over $40,525 but not over $86,375 $4,664.00 + 22% of excess over $40,525 Over $86,375 but not over $164,925 $14,751.00 + 24% of excess over $86,375 Over $164,925 but not over $209,450 $33,603.00 + 32% of excess over $164,925 Over $209,450 but not over $523,600 $47,843.00 + 35% of excess over $209,425 Over $523,600 $157,804.25 + 37% of excess over $523,600 ESTATE AND TRUST TAX RATES If taxable income is The tax is Not over $2,650 10% of taxable income Over $2,650 but not over $9,550 $265.00 + 24% of excess over $2,650 Over $9,550 but not over $13,050 $1,921.00 + 35% of excess over $9,550 Over $13,050 $3,146.00 + 37% of excess over $13,050