Jennifer and Paul, who file a joint return, have taxable income of $89,813 and the following...

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Jennifer and Paul, who file a joint return, have taxable income of $89,813 and the following tax liability: $19,050 x 10% = ($77,400- $19,050) ($89,813 _ $77,400) 1,905.00 7,002.00 2,730.86 $11,637.86 x 12% = x 22% Total tax liability Their average tax rate is

Jennifer and Paul, who file a joint return, have taxable income of $108,817 and the following tax liability $19,050 × 10% ($77,400- $19,050) × 12% = ($108,817- $77,400) x 22% = 1,905.0e 7,002.00 6,911.74 $15,818.74 Total tax liability Their marginal tax rate is:

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Answer 1

Answer #1

Taxable Income	=	$ 89,813

Tax payable	=	$ 11,637.86

Average tax rate	=	Tax payable / Taxable income
	=	$11637.86/ $89,813
	=	12.96%

Marginal tax rate	=	22%

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Answer 2

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