Table 3.5 2015 Individual Tax Rates Single Individuals If Your Taxable Income Is Up to $9,225 $9,225-37,450 $37,450 $90,750 $90,750-$189,750 $189,750-S411,500 $411,500-$$413,200 Over $413,200 You Pay This Amount on the Base of the Bracket S 0 922.50 5,156.25 18,481.25 46,075.25 119,401.25 119,996.25 Plus This Percentage on the Excess over the Base ( Marginal Rate) 10.0% 15.0 25.0 28.0 33.0 35.0 39.6 Average Tax Rate at Top of Bracket 10.0% 13.8 20.4 24.3 29.0 29.0 39.6 0 Married couples Filing Joint Returns You Pay This If Your Taxable Amount on the Income Is Base of the Bracket Up to $18,450 S $18,450-$74,900 1,845.00 $74.900-5151,200 10,312.50 $151,200-$230,450 29,387.50 $230,450-$411,500 51,577.50 $411,500-$464,850 111,324.00 Over $464,850 129,996.50 Plus This Percentage on the Excess over the Base (Marginal Rate) 10.0% 15.0 25.0 28.0 33.0 35.0 39.6 Average Tax Rate at Top of Bracket 10.0% 13.8 19.4 22.4 27.1 28.0 39.6 PERSONAL TAXES Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $268,000. Round your answers to two decimal places. a. What is their federal tax liability? $ b. What is their marginal tax rate? % c. What is their average tax rate? %