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So, here's this nation, where there is a tax rate of 5% on the first $20,000 of taxable income, then 20% on the next $30,000,
So, here's this nation, where there is a tax rate of 5% on the first $20,000 of taxable income, then 20% on the next $30,000, then 50% on all taxable income above $50,000. There is this additional provision in this country's tax code that provides a $5,000 exemption per family member.
Andys family has 5 members (including himself), and the family earns $250,000 per year. Calculate the marginal and average tax rates
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