3. When a taxpayer's income increases by $2,500 and the taxes owed increase from $13,899 to $14,399, the marginal tax rate is percent. Taxpayer takes the standard deduction, and her tax return includes an Education Credit of $250,

3. When a taxpayer's income increases by $2,500 and the taxes owed increase from $13,899 to $14,399, the marginal tax rate is percent. Taxpayer takes the standard deduction, and her tax return includes an Education Credit of $250,

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter1: Federal Income Taxation—an Overview

Section: Chapter Questions

Problem 43P

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3. When a taxpayer's income increases by $2,500 and the taxes owed
increase from $13,899 to $14,399, the marginal tax rate is
percent. Taxpayer takes the standard deduction, and her tax return
includes an Education Credit of $250.

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