Income Tax rates will be changed to the following Marginal Tax Rates given by: T(I) = 40*I2/ I2+1000 T is the tax rate given as a percentage I is the income of the person in THOUSANDS of dollars What is the Person who makes $20,000 top marginal tax rate

Income Tax rates will be changed to the following Marginal Tax Rates given by: T(I) = 40*I2/ I2+1000 T is the tax rate given as a percentage I is the income of the person in THOUSANDS of dollars What is the Person who makes $20,000 top marginal tax rate

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter4: Managing Income Taxes

Section: Chapter Questions

Problem 3LTAI

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Income Tax rates will be changed to the following Marginal Tax Rates given by: T(I) = 40*I²/ I²+1000

T is the tax rate given as a percentage
I is the income of the person in THOUSANDS of dollars

What is the Person who makes $20,000 top marginal tax rate?

(round the nearest hundredth of a percent)

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