Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario. Ginny’s Tax Scenario Ginny is a professional with taxable income of $24,525. What is Ginny’s total tax liability? (Note: Round your answer to the nearest cent, if necessary.) What is Ginny’s top marginal tax rate? What is Ginny's average tax rate?
Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario. Ginny’s Tax Scenario Ginny is a professional with taxable income of $24,525. What is Ginny’s total tax liability? (Note: Round your answer to the nearest cent, if necessary.) What is Ginny’s top marginal tax rate? What is Ginny's average tax rate?
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
Related questions
Question
|
Taxable income
|
Rate
|
|---|---|
| $0 — $9,525 | 10.0% |
| $9,526 — $38,700 | 12.0% |
| $38,701 — $82,500 | 22.0% |
| $82,501 — $157,500 | 24.0% |
| $157,501 — $200,000 | 32.0% |
| $200,001 — $500,000 | 35.0% |
| $500,001 or more | 37% |
Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario.
Ginny’s Tax Scenario
Ginny is a professional with taxable income of $24,525.
What is Ginny’s total tax liability?
(Note: Round your answer to the nearest cent, if necessary.)
What is Ginny’s top marginal tax rate?
What is Ginny's average tax rate?
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