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 marginal tax rate approaching as Income approaches infinity? (round the nearest hundredth of a percent)

Macroeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
ChapterST1: Government Spending And Taxation
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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 marginal tax rate approaching as Income approaches infinity?

(round the nearest hundredth of a percent)

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