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P 8th attempt Feedback If you have a taxable income of $258,170.00, what is your top marginal tax rate? 35 total tax bill? $70401.80 average tax rate? 25.59 % % Feedback given from incorrect part: " Be sure you are calculating the amount owed in each tax bracket, then add up those amounts."

P 8th attempt Feedback If you have a taxable income of $258,170.00, what is your top marginal tax rate? 35 total tax bill? $70401.80 average tax rate? 25.59 % % Feedback given from incorrect part: " Be sure you are calculating the amount owed in each tax bracket, then add up those amounts."

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 8th attempt Feedback total tax bill? $70401.80 If you have a taxable income of $258,170.00, what is your top marginal tax rate? 35 average tax rate? Tax rate 10% 12 22 24 25.59 32 35 37 % % Feedback given from incorrect part: " Be sure you are calculating the amount owed in each tax bracket, then add up those amounts."
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 8th attempt Feedback total tax bill? $70401.80 If you have a taxable income of $258,170.00, what is your top marginal tax rate? 35 average tax rate? Tax rate 10% 12 22 24 25.59 32 35 37 % % Feedback given from incorrect part: " Be sure you are calculating the amount owed in each tax bracket, then add up those amounts."
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