Question: Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition,

Using the previous tax table, compute the tax liability for the individual

Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario.

Janets Tax Scenario

Janet is a young professional with taxable income of $191,500 as an advertising account executive.

What is Janets total tax liability?

What is Janets top marginal tax rate?

What is Janet's average tax rate

\begin{tabular}{ll} Taxable income & Rate \\ \hline$0$9,525 & 10.0% \\ \hline$9,526$38,700 & 12.0% \\ \hline 38,701$82,500 & 22.0% \\ \hline$2,501$157,500 & 24.0% \\ \hline$157,501$200,000 & 32.0% \\ \hline 200,001$500,000 & 35.0% \\ \hline$500,001 or more & 37% \\ \hline \end{tabular} \begin{tabular}{ll} Taxable income & Rate \\ \hline$0$9,525 & 10.0% \\ \hline$9,526$38,700 & 12.0% \\ \hline 38,701$82,500 & 22.0% \\ \hline$2,501$157,500 & 24.0% \\ \hline$157,501$200,000 & 32.0% \\ \hline 200,001$500,000 & 35.0% \\ \hline$500,001 or more & 37% \\ \hline \end{tabular}

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