In the chart below for 2020 income tax brackets it shows information for single and married persons. Which statement about income tax rates below is true? SINGLE MARRIED, FILING JOINTLY INCOME RANGE TAX INCOME RANGE TAX $0- $9,275 10% $0- $18,550 10% $9,276 - $37,650 15% $18,551- $75,300 15% $37,651- $91,150 25% $75,301- $151,900 25% $91,151- $190,150 28% $151,901- $231,450 28% $190,151- $413,350 33% $231,451- $413,350 33% $413,351 - $415,050 35% $413,351- $466,950 35% $415,051+ 39.6% $466,951+ 39.6%

In the chart below for 2020 income tax brackets it shows information for single and married persons. Which statement about income tax rates below is true? SINGLE MARRIED, FILING JOINTLY INCOME RANGE TAX INCOME RANGE TAX $0- $9,275 10% $0- $18,550 10% $9,276 - $37,650 15% $18,551- $75,300 15% $37,651- $91,150 25% $75,301- $151,900 25% $91,151- $190,150 28% $151,901- $231,450 28% $190,151- $413,350 33% $231,451- $413,350 33% $413,351 - $415,050 35% $413,351- $466,950 35% $415,051+ 39.6% $466,951+ 39.6%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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