7 Use the marginal income tax rates shown here to calculate the average tax rate on anincome of $200,000.Taxable Income$0-s8.700$8,700-$35,350$35,350-$85,650$85,650-$178,650$178,650-$388,350Over $388.350Тах гate10%15%25%28%33%35%Average tax rate on $200,000 of income isO 2526O 30.50N

Here, margin tax at different range of income is given. To find the average tax at $200,000, one…

Use the marginal income tax rates shown here to calculate the average tax rate on an income of $200.000. Taxable Income $0-S8.700 $8.700-$35.350 $35.350-$85.65o $85.650-$178.650 $178.650-$388.350 Over $388.350 Tax rate 10% 15% 25% 28% 33% 35% Average tax rate on $200.000 of income is O 2526 0 30.50% NE O 35%

Use the marginal income tax rates shown here to calculate the average tax rate on an income of $200.000. Taxable Income $0-S8.700 $8.700-$35.350 $35.350-$85.65o $85.650-$178.650 $178.650-$388.350 Over $388.350 Tax rate 10% 15% 25% 28% 33% 35% Average tax rate on $200.000 of income is O 2526 0 30.50% NE O 35%

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter11: Fiscal Policy And The Federal Budget

Section: Chapter Questions

Problem 4WNG

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