Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. duela dent is single and had $197,600 in taxable i

Duela Dent is single and had $197,600 in taxable income. Using the rates from Table...

80.2K

Verified Solution

Question

Accounting

Duela Dent is single and had $197,600 in taxable income. Using the rates from Table 2.3, calculate her income taxes. What is the average tax rate? What is the marginal tax rate?

Note: Do not round intermediate calculations and round your income tax answer to 2 decimal places, e.g., 32.16. Enter the average and marginal tax rate answers as a percent, rounded 2 decimal places, e.g., 32.16.

TABLE 2.3 Personal tax rates for 2021 (Unmarried Individuals)

Taxable Income Tax Rate
$ 09,950 10%
9,95040,525 12
40,52586,375 22
86,375164,925 24
164,925209,425 32
209,425523,600 35
523,600+ 37

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students