Jurisdiction X levies a flat 10 percent tax on individual income in excess of $35,000...
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Accounting
Jurisdiction X levies a flat 10 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or less pay no income tax. Mr. Hill earned $84,200 income this year. Compute his income tax and determine his average and marginal tax rate. Ms. Lui earned $40,100 income this year. Compute her income tax and determine her average and marginal tax rate. Ms. Archer earned $29,400 income this year and paid no income tax. Describe her average and marginal tax rate. What type of rate structure does Jurisdiction X use for its individual income tax?
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