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The following details apply to questions 1-9. 2022 Tax Brackets 2052 Tax Brackets Marginal Tax Rate Single Filers $0-$10,700 Single Filers $0-$20,000 Marginal Tax Rate

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The following details apply to questions 1-9. 2022 Tax Brackets 2052 Tax Brackets Marginal Tax Rate Single Filers $0-$10,700 Single Filers $0-$20,000 Marginal Tax Rate 10% 5% 15% $10,700-$80,000 $80,000-$455,000 $455,000+ $20,000-$80,000 15% 20% $80,000+ 35% 24% Carefully read the following assumptions... The current year is 2022 and you just graduated from college. Congrats! You will earn a regular income of $50,000 in 2022 and a regular income of $200,000 in 2052. Assume that the income tax rates posted above apply for single filers. These tax rates are th only income taxes that anyone pays and there are no "deductions" available. You never get married. Everyone pays a flat capital gains tax rate of 15%. Finally, assume that the US stock market earns an average nominal return of 10 % per year, compounded annually. You always earn the full 10 % because you make smart investment choices. Inflation rates are ignored. You are single and earn a 2022 pre-tax income of $50,000. Solve for your effective tax rate if you earn and spend all of your available income. 1. a. 10.00% b. 11.67% C. 12.50% d. 15.00% None of the above. e

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