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Solve question 2 and 3 2. Given the following marginal tax rates and income brackets, calculate the effective tax rate for an individual earning $80,000

Solve question 2 and 3

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2. Given the following marginal tax rates and income brackets, calculate the effective tax rate for an individual earning $80,000 in income. Marginal Tax Rate Taxable Income Bracket 10% Up to $20,000 15% $20,001-$35,000 20% $35,001-$55,000 30% $55,001-$80,000 45% $80,001-$120,000 3. Suppose Lena makes $50,000 per year and Mariah makes $65,000 per year. If each pays $5,000 in taxes: a. What would their individual tax rates be? b. Would you describe this tax system as proportional, progressive, or regressive

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