Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers tổ two decimals. Taxable Income Tax rate SO-59,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,100 32 $204J01-$510,300 35 Over $510,300 37 1st attempt If you have a taxable income of $346,830.00, what is your top marginal tax rate? total tax bill?S average tax rate?

FINANCIAL ACCOUNTING
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Chapter1: Financial Statements And Business Decisions
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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
Tax rate
$0-$9,700
10%
$9,701-$39,475
12
$39,476-$84,200
22
$84,201-160,725
24
$160,726-$204,10o
32
$204,101-$510,300
35
Over $510,300
37
1st attempt
If you have a taxable income of $346,830.00, what is your
top marginal tax rate?
%.
total tax bill? $
average tax rate?
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 Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 22 $84,201-160,725 24 $160,726-$204,10o 32 $204,101-$510,300 35 Over $510,300 37 1st attempt If you have a taxable income of $346,830.00, what is your top marginal tax rate? %. total tax bill? $ average tax rate?
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