Problem $1-18($LO$.2,8)$

In $2024,$ Madden, who is single, has adjusted gross income of $$146,350,$ uses the standard deduction of $$14,600,$ and has $$131,750$ of taxable income. Compute the following for Madden:

a$.$ Federal income tax liability $($see Appendix A for the $2024$ Tax Rate Schedule$).$

$$x$

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Incorrect

b$.$ Statutory tax rate$($s$).$

$\%,,\%,\%$ and $,$

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Correct

c$.$ Marginal tax rate.

$\%$

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