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Taxable income Tax Rate 0- 10% 12 22 9,525 9,525- 38,700 38,700 82,500 82,500- 157,500 157,500- 200,000 200,000- 500,000 500,000+ 24 32 35 37 Duela
Taxable income Tax Rate 0- 10% 12 22 9,525 9,525- 38,700 38,700 82,500 82,500- 157,500 157,500- 200,000 200,000- 500,000 500,000+ 24 32 35 37 Duela Dent is single and had $192,800 in taxable income. Use the rates from Table 2.3. a. What is the average tax rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.) b. What is the marginal tax rate? (Enter your answer as a percent rounded to the nearest whole number, e.g., 32.) a. Average tax rate b. Marginal tax rate % % Sidewinder, Inc., has sales of $678,000, costs of $339,000, depreciation expense of $84,000, interest expense of $49,000, and a tax rate of 21 percent. What is the net income for this firm? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Net income
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