Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers decimals. Taxable Income Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,100 32 $204,101-$510,300 35 Over $510,300 37 1st attempt Part 1 What would be your federal income tax if your taxable income was $113,000.00? $ What is the average tax rate for $113,000.00 in taxable income? Part 2 How much tax would you owe if your income increased by $25,000 to $138,000.00? $ % What would be your average tax rate with $138,000.00 of taxable income? tyt

Using the 2019 marginal tax rates provided in the table below, find the marginal and average tax rates for the incomes shown. Give all answers decimals. Taxable Income Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,100 32 $204,101-$510,300 35 Over $510,300 37 1st attempt Part 1 What would be your federal income tax if your taxable income was $113,000.00? $ What is the average tax rate for $113,000.00 in taxable income? Part 2 How much tax would you owe if your income increased by $25,000 to $138,000.00? $ % What would be your average tax rate with $138,000.00 of taxable income? tyt

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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