Question
Use the following tax brackets for taxable income: Bracket Tax Rate $0 - $10,000 15% $10,000 - $50,000 25% $50,000 - $250,000 30% over $250,000
Use the following tax brackets for taxable income: Bracket Tax Rate $0 - $10,000 15% $10,000 - $50,000 25% $50,000 - $250,000 30% over $250,000 35% Compute the average tax rate and marginal tax rate for the following taxable income amounts. For your average rate answers, round the answers to 2 decimal places. Write 0's for the decimal places in your answers even if there are no decimal figures. For the marginal rate, no decimals in your answers (only whole values). ADD % signs after each of your answers. A. taxable income of $35,000: Average , Marginal B. taxable income of $50,000: Average , Marginal C. taxable income of $290,000: Average , Marginal
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