Answered
Tameka has taxable income of $85,225 that is taxed as follows: $9,325×10%=$932.50($37,950−$9,325) ×15%=4,293.75($854,225−$37,950) ×25%=11,818.75 Total tax $17,045.00\begin{array}{lr}\$ 9,325 \times 10 \%=&\$932.50\\(\$ 37,950-\$ 9,325) \times 15 \%=&4,293.75\\(\$ 854,225-\$ 37,950) \times 25 \%=&11,818.75\\\text { Total tax }&\$17,045.00\end{array}$9,325×10%=($37,950−$9,325) ×15%=($854,225−$37,950) ×25%= Total tax $932.504,293.7511,818.75$17,045.00
Her marginal tax rate is:
A) 25%.
B) 20%.
C) 15%.
D) 10%.
On Jul 31, 2024