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Terri Simmons is single and had $180,500 in taxable income. Use the rates from Table 2.3. a. Calculate her income taxes. (Do not round intermediate
Terri Simmons is single and had $180,500 in taxable income. Use the rates from Table 2.3. a. Calculate her income taxes. (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.) b. 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.) c. What is the marginal tax rate? (Do not round intermediate calculations and enter your answer as a percent rounded to the nearest whole number, e.g., 32.) a. Income taxes % b. Average tax rate C. Marginal tax rate % Table 2.3 Personal Tax Rates for 2018 (Unmarried Individuals) Taxable Income Tax Rate $ 0 - 9,525 10% 9,525 - 38,700 12 38,700 - 82,500 22 82,500 - 157,500 24 157,500 - 200,000 32 200,000 - 500,000 35 500,000 + 37
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