Mary Jarvis is a single individual who is working on fling her tax return for the previous year. She has assembled the following relevant information: She received $140,000 in salary. She received $14,500 of dividend income. • She received $5,700 of interest income on Home Depot bonds. She received $21,000 from the sale of Disney stock that was purchased 2 years prior to the sale at a cost of $9,400. • She received $11,500 from the sale of Google stock that was purchased 6 months prior to the sale at a cost of $7,600. • Mary only has allowable itemized deductions of $7,600, so she will take the standard deduction of $12,000 will be deducted from her gross income to determine her taxable income. Assume that her tax rates are based on Table 3.5. a. What is Mary's federal tax liability? Enter your answer as a positive value. Do not round intermediate calculations. Round your answer to the nearest cen b. What is her marginal tax rate? Do not round intermediate calculations. Round your answer to one decimal place. c. What is her average tax rate? Do not round intermediate calculations. Round your answer to two decimal pleces

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.