Question: Attempts Keep the Highest: 13 7. Problem 3.08 (Personal Taxes) Susan and Stan Britton are a married couple who file a joint income tax return,
Attempts Keep the Highest: 13 7. Problem 3.08 (Personal Taxes) Susan and Stan Britton are a married couple who file a joint income tax return, where the tax rates are based on the tax table 3.5. Assume that their taxable income this year was $197,000. Do not round Intermediate calculation a. What is their federal tax liability? Round your answer to the nearest dollar $ b. What is their marginal tax rate? Round your answer to the nearest whole number c. What is the average tax rate? Round your answer to two decimal places
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