FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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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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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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