Glens taxable income is $50,000 and he pays income tax of $6,940. If his income were $60,000,

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Glen’s taxable income is $50,000 and he pays income tax of $6,940. If his income were $60,000, he would pay taxes of $9,140. What is Glen’s marginal tax rate?

a. 18.23%

b. 22.00%

c. 12.00%

d. 25.00%

e. Some other amount

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Income Tax Fundamentals 2019

ISBN: 9781337703062

37th Edition

Authors: Gerald E. Whittenburg, Steven Gill

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Question Posted: Jun 28, 2019 07:01 AM

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Glens taxable income is $50,000 and he pays income tax of $6,940. If his income were $60,000,

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Income Tax Fundamentals 2019

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