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Timmy Tappan is single and had $201,000 in taxable income. Using the rates from Table 2.3 in the chapter, calculate his income taxes. a. What

Timmy Tappan is single and had $201,000 in taxable income. Using the rates from Table 2.3 in the chapter, calculate his income taxes.

a. What is the average tax rate?

b. What is the marginal tax rate?

Personal Tax Rates for 2020 (Unmarried Individuals) Personal Tax Rates for 2020 (Unmarried Individuals)

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