TABLE 2.3 Personal tax rates for 2021 (Unmarried Individuals)   Taxable Income Tax Rate $ 0–9,950 10% 9,950–40,525 12 40,525–86,375 22 86,375–164,925 24 164,925–209,425 32 209,425–523,600 35 523,600+ 37 Duela Dent is single and had $187,200 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is the average tax rate? What is the marginal tax rate? Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter the average and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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TABLE 2.3
Personal tax rates for 2021 (Unmarried Individuals)

 

Taxable Income Tax Rate
$ 0–9,950 10%
9,950–40,525 12
40,525–86,375 22
86,375–164,925 24
164,925–209,425 32
209,425–523,600 35
523,600+ 37

Duela Dent is single and had $187,200 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is the average tax rate? What is the marginal tax rate?

Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter the average and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16.

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