The following table gives the 2013 federal income tax rates for a single individual.
Income Rate
$0 to $8,925 ………………. 10%
$8,925 to $36,250 ………… 15%
$36,250 to $87,850 ……….. 25%
$87,850 to $183,250 ……… 28%
$183,250 to $398,350 …….. 33%
$398,350 to $400,000 …….. 35%
$400,000 and above ……….39.60%
a. Calculate the total tax payable for an individual who earns $250,000 a year.
b. What is his marginal tax rate?
c. Calculate his average tax rate.