Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15...

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Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 30 Bracket Income from 0 to $20,000 Income from $20,001 to $75,000 Income from $75,001 to $160,000 Income in excess of $160,000 Ms. Slattery's annual taxable income for years 1 through 5 is $153,800. Ms. Ochoa's taxable income for years 1 through 4 is $18,500. In year 5. Ms. Ochoa wins a lottery, resulting in taxable income of $695,000 for this one year. Assume the tax rate bracket has not changed Required: a. How much total income does each individual earn over the 5-year period? b. Compute each individual's average tax rate for the 5-year period Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Complete this question by entering your answers in the tabs below. Required A Required B How much total income does each individual earn over the 5-year period? Ms. Slattery Ms. Ochoa Total Income $ 769,000 $ 769,000 < Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Compute each individual's average tax rate for the 5-year period. Note: Round your answers to 2 decimal places. Ms. Slattery Ms. Ochoa Average Tax Rate 12.80 % % < Required A Required B > Country A levies an individual income tax with the following rate structure: Percentage Rate 10% 15 25 30 Bracket Income from 0 to $20,000 Income from $20,001 to $75,000 Income from $75,001 to $160,000 Income in excess of $160,000 Ms. Slattery's annual taxable income for years 1 through 5 is $153,800. Ms. Ochoa's taxable income for years 1 through 4 is $18,500. In year 5. Ms. Ochoa wins a lottery, resulting in taxable income of $695,000 for this one year. Assume the tax rate bracket has not changed Required: a. How much total income does each individual earn over the 5-year period? b. Compute each individual's average tax rate for the 5-year period Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Complete this question by entering your answers in the tabs below. Required A Required B How much total income does each individual earn over the 5-year period? Ms. Slattery Ms. Ochoa Total Income $ 769,000 $ 769,000 < Required A Required B > Complete this question by entering your answers in the tabs below. Required A Required B Compute each individual's average tax rate for the 5-year period. Note: Round your answers to 2 decimal places. Ms. Slattery Ms. Ochoa Average Tax Rate 12.80 % % < Required A Required B >

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a Total income earned by Ms SP Annual income x 5 96400 x 5 482000 Total income earned by ... View the full answer