Glens taxable income is $50,000 and he pays income tax of $8,300. If his income were $60,000,

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Glen’s taxable income is $50,000 and he pays income tax of $8,300. If his income were $60,000, he would pay taxes of $10,800. What is Glen’s marginal tax rate?

a. 18.23%
b. 17.87%
c. 15.00%
d. 25.00%
e. Some other amount

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Income Tax Fundamentals 2017

ISBN: 9781305872738

35th Edition

Authors: Gerald E. Whittenburg, Steven Gill, Martha Altus Buller

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Question Posted: Aug 29, 2023 09:52 AM

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Glens taxable income is $50,000 and he pays income tax of $8,300. If his income were $60,000,

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To calculate Glens marginal tax rate we can use the change in income tax divided by t...View the full answer

Income Tax Fundamentals 2017

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