Question
Stephanie has taxable income of $48,200 and a tax liability of $7,913. If Stephanies income increases by $4,000, her tax liability will be $8,913. a.
Stephanie has taxable income of $48,200 and a tax liability of $7,913. If Stephanies income increases by $4,000, her tax liability will be $8,913.
a. What is her average tax rate on the $48,200 of income?
b. What is her marginal tax rate?
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Introductory Financial Accounting for Business
Authors: Thomas Edmonds, Christopher Edmonds
1st edition
1260299449, 978-1260299441
