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Refer to the individual rate schedules in Appendix C. Required: a. What are the tax liability, the marginal tax rate, and the average tax rate for a married individual filing separately with $42,500 taxable income? b. What are the tax liability, the marginal tax rate, and the average tax rate for a single individual with $150,500 taxable income? c. What are the tax liability, the marginal tax rate, and the average tax rate for a head of household individual with $275,000 taxable income? d. What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $630,000 taxable income? Complete this question by entering your answers in the tabs below. Required A Required B Required Required D What are the tax liability, the marginal tax rate, and the average tax rate for a married indivi $42,500 taxable income? (Do not round your intermediate computations. Round "Tax liability "Average tax rate" to 2 decimal places.) Tax liability Marginal tax rate Average tax rate % % APPENDIX C 2021 Income Tax Rates INDIVIDUAL TAX RATES Married Filing Jointly and Surviving Spouse Ir taxable income is Not over $19.900 Over $19.900 but not over $81,050 Over $81,050 but not over $172.750 Over $172,750 but not over $329,850 Over $329,850 but not over $418,850 Over S418,850 but not over 5628,300 Over $628,300 The tax is 10% of taxable income $1.990.00 + 12% of excess over $19.900 $9,328.00 +22% of excess over $81.050 $29,502.00 +24% of excess over $172,750 S67 206.00 -32% of excess over $329,850 595,686,00 + 35% of excess over $418,850 $168.993.50 +37% of excess over $628,300 Married Filing Separately If taxable income is Not over $9.950 Over $9.950 but not over $40,525 Over $40.525 but not over $86,375 Over $86,375 but not over $164.925 Over $164.925 but not over $209,425 Over $209,425 but not over $314,150 Over $314.150 The tax is 1096 of taxable income 5995.00 +12% of excess over $9.950 $4.664.00 +22% of excess over $40,525 $14,751.00 +24% of excess over $86,375 $33,603.00 +32% of excess over $164.925 $47.843.00 +35% of excess over $209,425 584,496.75 +37% of excess over $314,150 Head of Household If taxable income is Not over $14,200 Over $14.200 but not over $54,200 Over $54,200 but not over $86,350 Over $86,350 but not over $164,900 Over $164,900 but not over $209,400 Over $209,400 but not over S523,600 Over S523,600 The taxis 10% of taxable income S1,420.00+ 12% of excess over $14,200 S6,220.00-22% of excess over $54,200 $13,293.00 -24% of excess over $86 350 $32,145.00+32% of excess over $164.900 $46,385,00+ 35% of excess over $209,400 $156,355.00 +37% of excess over $523,600 Single Ir taxable income is Not over $9.950 Over $9.950 but not over $40,525 Over $40.525 but not over $86,375 Over $86,375 but not over $164.925 Over $164,92S but not over $209,450 Over $209,450 but not over S523,600 Over S523,600 The tax is 10% of taxable income S995.00 +12% of excess over $9.950 $4,664.00 +22% of excess over $40.525 $14,751.00 +24% of excess over $86,375 $33,603.00 +32% of excess over $164.925 547,843.00 + 35% of excess over $209,425 $157,804.25 +37% of excess over S523,600 ESTATE AND TRUST TAX RATES If taxable income is Not over $2,650 Over $2,650 but not over $9,550 Over $9,550 but not over $13,050 Over $13,050 The tax is 10% of taxable income $265.00 +24% of excess over $2,650 $1,921,00 + 35% of excess over $9,550 $3,146,00 + 37% of excess over $13,050

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