Terry is a worker in a country named Pretoria. His salary is $46,000, and his...
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Accounting
Terry is a worker in a country named Pretoria. His salary is $46,000, and his taxable income is $52,000. Pretoria imposes worker tax as follows: Employers withhold a tax of 20% of all wages and salaries. If taxable income as reported on the employee's income tax return is greater than $50,000, an additional 10% tax is withheld on all income. Terry's marginal tax rate is: 30%. 10%. 0%. O 20%
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