Taxable Income $0-$9,700 $9,701-$39,475 $39,476-$84,200 $84,201-160,725 $160,726-$204,100 $204,101-$510,300 Over $510,300 5th attempt If you have a taxable income of $404,350.00, what is your top marginal tax rate? 35 total tax bill? $I Tax rate 10% 12 22 24 32 35 37 average tax rate? 28.95 % %

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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Taxable Income
$0-$9,700
$9,701-$39,475
$39,476-$84,200
$84,201-160,725
$160,726-$204,100
$204,101-$510,300
Over $510,300
5th attempt
If you have a taxable income of $404,350.00, what is your
top marginal tax rate? 35
total tax bill? $|
Tax rate
10%
12
22
24
32
35
37
average tax rate? 28.95
%
%
Transcribed Image Text:Taxable Income $0-$9,700 $9,701-$39,475 $39,476-$84,200 $84,201-160,725 $160,726-$204,100 $204,101-$510,300 Over $510,300 5th attempt If you have a taxable income of $404,350.00, what is your top marginal tax rate? 35 total tax bill? $| Tax rate 10% 12 22 24 32 35 37 average tax rate? 28.95 % %
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