Suppose you get a raise and your taxable income increases from $2,000 to $8,000, use the information below to calculate the MARGINAL tax rate on income of $8,000. (Do NOT include % sign in your answer) Total Taxable Income Total Taxes Paid $0 $0 $2,000 $200 $4,000 $600 $6,000 $1,200 $8,000 $2,000

Suppose you get a raise and your taxable income increases from $2,000 to $8,000, use the information below to calculate the MARGINAL tax rate on income of $8,000. (Do NOT include % sign in your answer) Total Taxable Income Total Taxes Paid $0 $0 $2,000 $200 $4,000 $600 $6,000 $1,200 $8,000 $2,000

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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Question

Suppose you get a raise and your taxable income increases from $2,000 to $8,000, use the
information below to calculate the MARGINAL tax rate on income of $8,000.
(Do NOT include % sign in your answer)
Total Taxable Income Total Taxes Paid
$0
$0
$2,000
$4,000
$200
$600
$6,000
$1,200
$8,000
$2,000

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