Using Table 19.1, compute the taxable income and taxes for the following taxpayers: Gross Exemptions Taxable Taxpayer

Question:

Using Table 19.1, compute the taxable income and taxes for the following taxpayers:

Gross Exemptions Taxable Taxpayer Income and Deductions Income Tax A $ 20,000 $ 4,000 B 40,000 16,000 C 80,000 34,000 D 200,000 110,000 Which taxpayer has

(a) The highest nominal tax rate?

(b) The highest effective tax rate?

(c) The highest marginal tax rate?

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