Turn back to Table 3.7, which shows marginal personal tax rates. Make a table in Excel that
Question:
a. For each income, calculate the average tax rate of a single taxpayer. Plot the average tax rate as a function of income.
b. What happens to the difference between the average and top marginal tax rates as income becomes very large?
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Related Book For
Fundamentals of Corporate Finance
ISBN: 978-0077861629
8th edition
Authors: Richard Brealey, Stewart Myers, Alan Marcus
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