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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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
Transcribed Image Text:Pleas calculate the AVERAGE and MARGINAL TAX based on the tax bracket provided below. (Hint: every box in the table may NOT be used.)
$0
$1,001
$3,001
Tax Bracket
$10,001
$20,001
$40,001
$1,000
$3,000
$10,000
$20,000
$40,000
& Above
Average Tax:__`17.729%
Marginal Tax:__`25¹%
Tax
5%
10%
15%
25%
30%
45%
$
$
Taxable Income
Amount Taxed
type your ansv
type your ansv
type your ansv
=
type your ansv
$16,500
$
$
$
$
Actual Tax Paid
type your answe
type your answe
type your answe
type your answe
type your answe
Amount Remaining
$
$
$
$
type your answe
type your answe
type your answe
type your answe
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