Joe and Jane Keller are a married couple who file a joint income taxreturn, where the tax rates are based on the tax tables presented in the chapter. Assume that their taxable income this year was $165,000.a. What is their federal tax liability?b. What is their marginal tax rate?c. What is their average tax rate?

Jorge and Anita, married taxpayers, earn $96,500 in taxable income and $77,500 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Do not round intermediate calculations. Round your answers to 2 decimal places.) Federal tax Average tax rate Effective tax rate Marginal tax rate % % %

1)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an investment in City of Heflin bonds. Using the U.S. tax rate schedule for married filing jointly, how much federal tax will they owe? What is their average tax rate? What is their effective tax rate? What is their current marginal tax rate? (Round your answers to 2 decimal places.)Jorge and Anita, married taxpayers, earn $150,000 in taxable income and $40,000 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule).2)If Jorge and Anita earn an additional $100,000 of taxable income, what is their marginal tax rate on this income?b.What is their marginal rate if, instead, they report an additional $100,000 in deductions?

Required: Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the below table. Taxable income and Total Tax Liability are in thousands. Note: Enter your answers in whole dollars and not in thousands. Round the final answers to the nearest dollar value. Iten Number of returns Taxable income Total tax liability Average tax rates Under $15.000 Under $15,000 $15,000 to under $30,000 $30,000 to under $50,000 $50,000 to under $100,000 $100,000 to under $200,000 $200,000 or more 39,270,202 $6,939,029 $ 778,132 11.21N "The average tax rate is total tax liability divided by taxable income. S S $ $ $ $ Ranges of Adjusted Gross Income $30,000 to under $50,000 20 542 1,826 5,225 14,280 90.816 $15,000 to under $30,000 27,391,909 $ 192,903,768 $ 14,791,011 7.67% 27,233,637 $ 604,359,808 $50,210,871 8.31% $50,000 to under $100,000 34,641,449 $1,753,762,416 $ 106,213,777 10.62% $100,000 to under $200,000 21,113,838 $ 2,304,555,…