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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

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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: $12,900;$75,900,$307,000;$498,000;$1.2 million; $1.6 million; and $2.2 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: $12,900;$75,900;$307,000;$498,000;$1.2 million; $1.6 million; and $2.2 million. (Round dollars to the nearest cent and round percentages to one decimal place.) Data table (Click the icon here in order to copy the contents of the data table below into a spreadsheet.)

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