Tameka has taxable income of $97,075 that is taxed as follows: $9,700 10% =$970.00 ($39,475
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Question:
$9,700 × 10% =$970.00
($39,475 − $9,700) × 12% = 3,573.00
($84,200 − $39,475) × 22% = 9,839.50
($97,075 − $84,200) × 24% = 3,090.00
Total tax liability$17,472.50
Her marginal tax rate is:
22%.
12%.
24%.
18%.
Related Book For
Income Tax Fundamentals 2015
ISBN: 9781305177772
33rd edition
Authors: Gerald E. Whittenburg, Martha Altus-Buller, Steven Gill
Posted Date: