Use the tax brackets in Table 2.5 to calculate the taxes and average tax rates for each
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Use the tax brackets in Table 2.5 to calculate the taxes and average tax rates for each of these incomes (in thousands of dollars) for these ten married couples filing a joint tax return: 15, 23, 32, 37, 48, 48, 75, 80, 110, 130. Now display these average tax rates in a histogram with these intervals: 0%–5%, 5%–10%, 10%–15%, 15%–20%, 20%–25%.
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Table 2.5: Federal Income Tax Brackets for a Married Couple Filing Jointly in 2008 Taxable Income Bracket $0-$16,050 $16,051-$65,100 $65,101-$131,450 $131,451-$200,300 $200,301-$357,700 $357,701-No limit Tax 10% of the amount over $0 $1,605.00 plus 15% of the amount over $16,050 $8,962,50 plus 25% of the amount over $65,100 $25,550.00 plus 28% of the amount over $131,450 $44,828.00 plus 33% of the amount over $200,300 $96,770.00 plus 35% of the amount over $357,700
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Related Book For
Essential Statistics Regression And Econometrics
ISBN: 9780123822215
1st Edition
Authors: Gary Smith
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