If you have a taxable income of $423,340.00, what is your top marginal tax rate? total tax bill? $ average tax rate? % %

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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If you have a taxable income of $423,340.00, what is your
top marginal tax rate?
total tax bill? $
average tax rate?
%
%
Transcribed Image Text:If you have a taxable income of $423,340.00, what is your top marginal tax rate? total tax bill? $ average tax rate? % %
Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers to two decimals.
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
Tax rate
10%
12
22
24
32
35
37
Transcribed Image Text:Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers to two decimals. 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 Tax rate 10% 12 22 24 32 35 37
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