Answered
Jordan and Paul,a married couple,have taxable income of $46,625,which is taxed as follows: $18,650×10%=$1,865.00($46,625−$18,650) ×15%=4,196.25 Total tax liability $6,061.25\begin{array}{lr}\$ 18,650 \times 10 \%=&\$1,865.00\\(\$ 46,625-\$ 18,650) \times 15 \%=&4,196.25\\\text { Total tax liability }&\$6,061.25\end{array}$18,650×10%=($46,625−$18,650) ×15%= Total tax liability $1,865.004,196.25$6,061.25
Their marginal tax rate is:
A) 10%.
B) 12.5%.
C) 13%.
D) 15%.
On Jun 21, 2024