Requirement

Based on the amounts of taxable income below, compute the federal income tax payable in 2014 on each amount assuming the taxpayer is married filing a joint return. Also, for each amount of taxable income, compute the average tax rate and the marginal tax rate.

Begin by computing the amounts for scenario a. and then scenarios b, and c. (Enter the federal nearest cent, $X.XX. Round all tax rates to the nearest hundredth percent, X.XX %.)

Income amounts

Taxable income of $30,000

Taxable income of $100,000

Taxable income of $375,000

	Scenario A	Scenario B	Scenario C
Federal Income Tax Payable
Average Tax Rate	%	%	%
Marginal Tax Rate	%	%	%