Taxable income Rate 10.0% 12.0% 22.0% $0 - $9,525 $9,526 - $38,700 $38,701 - $82,500 $82,501 - $157,500 $157,501 - $200,000 $200,001 - $500,000 $500,001 or more 24.0% 32.0% 35.0% 37% Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the ability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario, Nick's Tax Scenario Nick is a young professional with taxable income of $118,000 as an advertising account executive What is Nick's total tax liability? S (Note: Round your answer to the nearest cent, if necessary.) What is Nick's top marginal tax rate? What is Nick's average tax rate? $200,00 37% $500,001 or more Using the previous tax table, compute the tax liability for the i addition, use the dropdown lists to identify the marginal tax ra 22.00% Nick's Tax Scenario 32.00% Nick is a young professional with tax 10.00% e of $118,00 12.00% 24.00% What is Nick's total tax liability? $ (Note: RC 35.00% What is Nick's top marginal tax rate? What is Nick's average tax rate? sing the previous tax table, compute the tax liability ddition, use the dropdown lists to identify the margii Nick's Tax Scenario Nick is a young professional with taxable income of 19.16% 0.2299 What is Nick's total tax liability? ( 0.2491 What is Nick's top marginal tax ra 0.2108 What is Nick's average tax rate