Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. finance
  3. please show work use the following tax brackets

please show work Use the following tax brackets for taxable income for...

60.1K

Verified Solution

Question

Finance

please show work image
Use the following tax brackets for taxable income for question #1 and #2: Bracket $0 - $10,000 $10,000 - $35,000 $35,000 - $250,000 over $250,000 Tax Rate 13% 20% 32% 39% Charles's taxable income last year is $410,000. Please compute his marginal rate, and his average tax rate using the tax brackets. 1. Calculate the average tax rate. (1 point) a. 36.69% b. 34.17% c. 33.54% d. 31.62% 2. What is the marginal rate? (1 point) a. 13% b. 39% c. 22% d. 20%

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

Statistics
1.2K views

A data set consisting of 380 men s basketball player heights is known to have...

Psychology
1.2K views

1. Come up with 3 topics about which you might be interested in writing a research...

Biology
1.2K views

A Perform the confrontation test B Have client say ah and watch uvula C Check...

Biology
1.2K views

Question 4 The double helical structure of the DNA is antiparallel What does that mean...

Geometry
1.2K views

Complete the flowchart proof Then write a two column proof Given AD BC ADLAB ADLBC...

Basic Math
1.2K views

Clint s salary increased from 22 000 to 37 400 over a three year period...

Basic Math
1.2K views

Use the given information to solve right triangle ABC for all missing parts a 38...

Algebra
1.2K views

Find the least common denominator x 9 2x 1 x x 72 and 2 x...

Accounting
1.2K views

Transfer Pricing Under the general guidelines for transfer pricing, the minimum transfer price will vary...

Accounting
1.2K views

TipTop Flight School offers flying lessons at a small municipal airport. The school

Accounting
1.2K views

Fred received a Form 1099-misc with $4200 general contractor who paid him for carpentry. how...

Accounting
1.2K views

matching This plan provides supplementary disability retirement, and...