Refer to the table below:

2014 Tax Data
Tax Bracket	Marginal Tax Rate
$0-9,075	10%
$9,075-36,900	15
$36,900-89,350	25
$89,350-186,350	28
$186,350-405,100	33
$405,100-406,750	35
Over $406,750	39.6

Compute the taxes on a taxable income of $125,000 in order to answer the following questions. (a) What is the marginal tax rate?

Instructions: Enter your responses as a percent rounded to the nearest whole number.

% (b) What is the nominal tax rate?

Instructions: Enter your responses as a percent rounded to the nearest two decimal places.