If you have a taxable income of $423,340.00, what is yourtop 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-$510,300Over $510,300Tax rate10%122224323537

Income tax is the direct tax paid by the person. The progressive tax is when the tax rate increases…

Answered: If you have a taxable income of…

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

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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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?
%
%

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