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Timmy Tappan is single and had$181,500 in taxable income. Use the rates from Table 2.3 . Table 2.3 Personal Tax Rates for 2021 (Unmarried Individuals)
Timmy Tappan is single and had$181,500 in taxable income. Use the rates from Table 2.3. |
Table 2.3 Personal Tax Rates for 2021 (Unmarried Individuals)
Taxable Income | Tax Rate |
---|---|
$0-9,950 | 10% |
9,950-40,525 | 12 |
40,525-86,375 | 22 |
86,375-164,925 | 24 |
164,925-209,425 | 32 |
209,425-523,600 | 35 |
523,600+ | 37 |
a. | Calculate hisincome taxes. (Do not round intermediate calculations and round your answer to the nearest whole number, 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.) |
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