If Taxable Income Is Between:0-$9,225$9,226-$37,450$37,451 - $90,750$90,751 - $189,300$189,301-$411,500$411,501-$413,200$413,201 +The Tax Due Is:10% of taxable income$922.50 +15% of the amount over $9,225$5,156.25 + 25% of the amount over $37,450$18,481.25 +28% of the amount over $90,750$46,075.25 +33% of the amount over $189,300$119,401.25 + 35% of the amount over $411,500$119,996.25 +39.6% of the amount over $413,200A. An individual makes $235,000 in a year. What is their marginal tax rate?

Marginal tax rate is the taxation system under which the rate of tax increases with the increase in…

Answered: A. An individual makes $235,000 in a…

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A. An individual makes $235,000 in a year. What is their marginal tax rate?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

If Taxable Income Is Between:
0-$9,225
$9,226-$37,450
$37,451 - $90,750
$90,751 - $189,300
$189,301-$411,500
$411,501-$413,200
$413,201 +
The Tax Due Is:
10% of taxable income
$922.50 +15% of the amount over $9,225
$5,156.25 + 25% of the amount over $37,450
$18,481.25 +28% of the amount over $90,750
$46,075.25 +33% of the amount over $189,300
$119,401.25 + 35% of the amount over $411,500
$119,996.25 +39.6% of the amount over $413,200
A. An individual makes $235,000 in a year. What is their marginal tax rate?

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