Duela Dent is single and had $181,600 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is theaverage tax rate? What is the marginal tax rate?Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter theaverage and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16.Income taxesAverage tax rateMarginal tax rate39,801.50 X22.00 × %%32.00 TABLE 2.3Personal tax rates for 2021 (Unmarried Individuals)Taxable Income$ 0-9,9509,950-40,52540,525-86,37586,375-164,925164,925-209,425209,425-523,600523,600+Tax Rate10%122224323537

The average income tax rate is the tax rate that is derived as an average of total taxes paid. The…

Answered: Duela Dent is single and had $181,600…

Duela Dent is single and had $181,600 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is th average tax rate? What is the marginal tax rate? 2346 Extend

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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Question

100%

Duela Dent is single and had $181,600 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is the
average tax rate? What is the marginal tax rate?
Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter the
average and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16.
Income taxes
Average tax rate
Marginal tax rate
39,801.50 X
22.00 × %
%
32.00

TABLE 2.3
Personal tax rates for 2021 (Unmarried Individuals)
Taxable Income
$ 0-9,950
9,950-40,525
40,525-86,375
86,375-164,925
164,925-209,425
209,425-523,600
523,600+
Tax Rate
10%
12
22
24
32
35
37

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