Tax Rates. Based on the amounts of taxable income below, compute the federal income tax payable in

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Tax Rates. Based on the amounts of taxable income below, compute the federal income tax payable in 2023 on each amount assuming the taxpayers are married filing a joint return. Also, for each amount of taxable income, compute the average tax rate and the marginal tax rate.

a. Taxable income of \($30,000\) .

b. Taxable income of \($100,000\) .

c. Taxable income of \($375,000\).

d. Taxable income of \($700,000\).

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Pearsons Federal Taxation 2024 Individuals

ISBN: 9780138238100

37th Edition

Authors: Mitchell Franklin, Luke E. Richardson

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