Question: Problem 2 - 5 Calculating Taxes [ LO 3 ] Timmy Tappan is single and had $ 1 9 5 , 0 0 0 in
Problem Calculating Taxes LO
Timmy Tappan is single and had $ in taxable income. Using the rates from Table in the chapter, calculate his income taxes.
a What is the average tax rate? Do not round intermediate calculations and enter your answer as a percent rounded to decimal places, eg
b What is the marginal tax rate? Do not round intermediate calculations and enter your answer as a percent rounded to the nearest whole number, eg
tablea Average tax rate,,,
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