Using the individual tax rate schedule $,$ perform the following:

a$.$ Calculate the tax liability, after$-$tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $$14,400$;$$79,600$;$$305,000$;$$493,000$;$$1\mathrm{.}3$ million; $$1\mathrm{.}6$ million; and $$2\mathrm{.}2$ million.

b$.$ Plot the average tax rates $($measured on the $y-$axis$)$ against the pretax income levels $($measured on the $x-$axis$).$ What generalization can be made concerning the relationship between these variables?

a$.$ Calculate the tax liability, after$-$tax earnings, and average tax rates for the following levels of partnership earnings before taxes: $$14,400$;$$79,600$;$$305,000$;$$493,000$; $$1\mathrm{.}3$ million; $$1\mathrm{.}6$ million; and $$2\mathrm{.}2$ million.

$($Round dollars to the nearest cent and round percentages to one decimal place.$)$

Before$-$Tax Earnings

Tax Liability

After$-$Tax Earnings

Average Tax Rate

$$14,400$

$

$

$7$

Data table

$($Click the icon here in order to copy the contents of the data table below into a spreadsheet.$)$

TABLE $1\mathrm{.}2$: Federal Income Tax Rates and Brackets for Individual Returns $(2018)$

$\backslash$table$[[$Tax Rates,Taxable Income,$],[10\mathrm{.}0\%,$$$0$ to $$9,875,10\%$ of taxable income$],[12\mathrm{.}0\%,$$$9,876$ to $$40,125,$$$987\mathrm{.}50,$ plus $12\%$ of the amount over $$9,875$

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