Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers 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-$204,100 32 $204,101-$510,300 35 Over $510,300 37 1st attempt If you have a taxable income of $306,160.00, what is your top marginal tax rate? % total tax bill? $ average tax rate? %

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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
Taxable Income
Tax rate
$0-$9,700
10%
$9,701-$39,475
12
$39,476-$84,200
$84,201-160,725
$160,726-$204,100
$204,101-$510,300
Over $510,300
37
1st attempt
If you have a taxable income of $306,160.00, what is your
top marginal tax rate?
%
total tax bill? $
average tax rate?
22355
24
%
Transcribed Image Text:Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give all answers Taxable Income Tax rate $0-$9,700 10% $9,701-$39,475 12 $39,476-$84,200 $84,201-160,725 $160,726-$204,100 $204,101-$510,300 Over $510,300 37 1st attempt If you have a taxable income of $306,160.00, what is your top marginal tax rate? % total tax bill? $ average tax rate? 22355 24 %
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