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what is Liams marginal tax rate? Use the information below to answer questions 14-16. Liam Jones is single and began working as a marketing analyst
what is Liams marginal tax rate?
Use the information below to answer questions 14-16. Liam Jones is single and began working as a marketing analyst is 2019. His is preparing to file his income tax return for 2019 and has collected the following information: Salary $55,000 Interest income: $125 Itemized deductions $3,000 Standard deduction $12,200 Marginal tax brackets: 10% \$0-\$9,875 12%$9,876$40,125 22%$40,126$85,525 24%$85,526$163,300 What is Liam's adjusted gross income? \begin{tabular}{|} $55,000 \\ $55,125 \\ $42,800 \\ $2,000 \\ \hline None of the above. \end{tabular} Step by Step Solution
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