Question: Section A in Table 20-2 indicates that the maximum percent of income tax is 35% of the taxable income. Calculate the income tax for a

Section A in Table 20-2 indicates that the maximum percent of income tax is 35% of the taxable income. Calculate the income tax for a single person whose taxable income is $400,000. Calculate the tax rate across the entire $400,000. Explain why the overall rate is less than 35%.

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