EBK PERSONAL FINANCE
EBK PERSONAL FINANCE
7th Edition
ISBN: 9780100659711
Author: KEOWN
Publisher: YUZU
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Chapter 4, Problem CC.16Q
Summary Introduction

To determine:

The differences among marginal tax rate, average tax rate and average tax rate of C and T and the change in these rates due to increase in salary or purchase of home.

Introduction:

Marginal tax rate is the rate of tax which is levied on the additional income earned by the higher tax payers that is people earning more than $153,100. Average tax rate is rate of tax that determines the tax rate on total gross income. Average tax rate sometimes also called as effective marginal tax rate.

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