In your current job, you earn $55,000. You take the standard deduction of $12,200. You have an offer of a new job working for a different employer. Your salary would go up by $5,000. Given your current taxable income, what is your marginal tax rate? For taxable income over... $0 $9,700 $39,475 $84,200 $160,725 $204,100 $510,300 O 22% O 12% ○ 10% 24% ... but not over... $9,700 $39,475 $84,200 $160,725 $204,100 $510,300 ... the marginal tax rate is: 10% 12% 22% 24% 32% 35% 37%

In your current job, you earn $55,000. You take the standard deduction of $12,200. You have an offer of a new job working for a different employer. Your salary would go up by $5,000. Given your current taxable income, what is your marginal tax rate? For taxable income over... $0 $9,700 $39,475 $84,200 $160,725 $204,100 $510,300 O 22% O 12% ○ 10% 24% ... but not over... $9,700 $39,475 $84,200 $160,725 $204,100 $510,300 ... the marginal tax rate is: 10% 12% 22% 24% 32% 35% 37%

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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