Using the simplified 2018 tax table, determine the income tax owed for a single person who has $143904 of taxable income. Marginal Tax Rate Filing Single On Taxable Income 10% First $9,525 12% 22% 24% $9,525 $38,700 $38,700 $82,500 $82,500 $157,500 32% 35% 37% $157,500 $200,000 $200,000 $500,000 Over $500,000 Find the marginal tax amount for each of the brackets 10% 952.50 12% 22% 24% Total Tax

ENGR.ECONOMIC ANALYSIS
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Using the simplified 2018 tax table, determine the income tax owed for a single person who has $143904 of
taxable income.
Marginal Tax Rate
Filing Single
On Taxable Income
10%
First $9,525
12%
22%
24%
$9,525 $38,700
$38,700 $82,500
$82,500 $157,500
32%
35%
37%
$157,500 $200,000
$200,000 $500,000
Over $500,000
Find the marginal tax amount for each of the brackets
10% 952.50
12%
22%
24%
Total Tax
Transcribed Image Text:Using the simplified 2018 tax table, determine the income tax owed for a single person who has $143904 of taxable income. Marginal Tax Rate Filing Single On Taxable Income 10% First $9,525 12% 22% 24% $9,525 $38,700 $38,700 $82,500 $82,500 $157,500 32% 35% 37% $157,500 $200,000 $200,000 $500,000 Over $500,000 Find the marginal tax amount for each of the brackets 10% 952.50 12% 22% 24% Total Tax
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