Use the following tax brackets for taxable income: Bracket ........Tax Rate $0$10,000 .........15% $10,000$50,000 ......25% $50,000$250,000 .....30%
Question:
Bracket ........Tax Rate
$0–$10,000 .........15%
$10,000–$50,000 ......25%
$50,000–$250,000 .....30%
Over $250,000 ........35%
Compute the average tax rate for the following taxable income amounts:
a. $20,000
b. $125,000
c. $350,000
d. $1,000,000
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