Question: I need help please ? Question 6 Answer Liam has a gross income of $120,000 and takes the standard deduction. a) What are his total

I need help please ?

Question 6 Answer Liam has a gross income of $120,000 and takes the standard deduction. a) What are his total taxes due? b) What is his marginal tax rate? c) What is his effective tax rate? Round to the nearest hundredth of a percent. Part III: Reflection 7. Explain the difference between the common misconception that people might have about how tax brackets work and how they actually work. 8. Reflect on your process for calculating the total tax due. What is one mathematical strategy you can use to make the repeated calculations more efficient? Why would that be faster? 9. Why is the marginal tax rate always the same or higher than the effective tax rate? 10. It's helpful to know the background of how much you owe in federal taxes by calculating by hand. What is another way that people can look up how much they owe

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