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What is the tax bill (using the tax brackets below), marginal tax rate, and the average income tax rate based on an income of $75,000?
What is the tax bill (using the tax brackets below), marginal tax rate, and the average income tax rate based on an income of $75,000?
$0 - 9,950 | 10% |
$9,950 - 40,525 | 12% |
$40,525 - 86,375 | 22% |
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Tax Bill = $12,248.50; Marginal Tax Rate = 22%; Average Tax Rate = 16.33%
Tax Bill = $16,500; Marginal Tax Rate = 22%; Average Tax Rate = 22%
Tax Bill = $12,248.50; Marginal Tax Rate = 22%; Average Tax Rate = 14.67%
Tax Bill = $16,500; Marginal Tax Rate = 10%; Average Tax Rate = 12%
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