Using Excel to find the marginal tax rate can be accomplished using the VLOOKUP function. However, calculating
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In reading this table, the marginal tax rate for taxable income less than $8,500 is 10 percent. If the taxable income is between $8,500 and $34,500, the tax bill is $850 plus the marginal taxes. The marginal taxes are calculated as the taxable income minus $8,500 times the marginal tax rate of 15 percent.
a. Create a tax table for corporate taxes similar to the individual tax table shown above.
b. For a given taxable income, what is the marginal tax rate?
c. For a given taxable income, what is the total tax bill?
d. For a given taxable income, what is the average taxrate?
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Related Book For
Corporate Finance
ISBN: 978-0077861759
10th edition
Authors: Stephen Ross, Randolph Westerfield, Jeffrey Jaffe
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