Question: 25. Using the table provided, calculate the marginal and average tax rate for the following taxable income: a) $70,000 b) $800,000 Taxable Income Tax Rate

25. Using the table provided, calculate the marginal and average tax rate for the following taxable income: a) $70,000 b) $800,000 Taxable Income Tax Rate 0 to $50,000 15% $50,000 to $75,000 25% $75,000 to $100,000 34% $100,000 to $335,000 39% $335,000 to $1,000,000 34% $1,000,000 and more 35%

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