PRACTICE WHAT YOU KNUW Using the 2019 marginal tax rates provided in the tabe below, fnd the marginal and average tax rates for the incomes shown. Give all arowers to two decimals Taxable Income Tax rate S0-59.700 $9.701-539.475 12 $39.476-S84.200 22 $84.201-60,725 24 S6a.726-5204100 32 $204J01-SSIO300 35 Over $510.300 37 What would be your federal income tax if your taxable income was $100,000.00? S What is the average tax rate for $100,000.00 in taxable income? How much tax would you owe if your income increased by $25,000 to $125.000.00? S What would be your average tax rate with $125,000.00 of taxable income?
PRACTICE WHAT YOU KNUW Using the 2019 marginal tax rates provided in the tabe below, fnd the marginal and average tax rates for the incomes shown. Give all arowers to two decimals Taxable Income Tax rate S0-59.700 $9.701-539.475 12 $39.476-S84.200 22 $84.201-60,725 24 S6a.726-5204100 32 $204J01-SSIO300 35 Over $510.300 37 What would be your federal income tax if your taxable income was $100,000.00? S What is the average tax rate for $100,000.00 in taxable income? How much tax would you owe if your income increased by $25,000 to $125.000.00? S What would be your average tax rate with $125,000.00 of taxable income?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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