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Thank you in advance! Will upvote! Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6% Income from -- to
Thank you in advance! Will upvote!
Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6% Income from -- to $30,000 Income from $30,001 to 10 $70,000 Income from $70,001 to 20 $200,000 28 Income in excess of $200,000 Required A Required B Taxpayer A's taxable income is $196,900. Compute A's tax and average tax rate. What is A's marginal tax rate? (Round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount.) Income tax % Average tax rate Marginal tax rate % Required B Taxpayer B's taxable income is $812,400. Compute B's tax and average tax rate. What is B's marginal tax rate? (Round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount.) Income tax % Average tax rate Marginal tax rate %Step by Step Solution
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