Answered
Refer to Scenario 12-3. The taxpayer faces
A) an average tax rate of 30 percent when her income is $40,000.
B) an average tax rate of 23 percent when her income is $60,000.
C) a marginal tax rate of 30 percent when her income rises from $20,000 to $20,001.
D) a marginal tax rate of 50 percent when her income rises from $40,000 to $60,000.
On Jun 11, 2024