Homework Answers
| Tax on $132750 | 26034.5 | =14382.5+(132750-84200)*24% |
| a | ||
| Taxable income | 189750 | =132750+57000 |
| Tax on $189750 | 42036.5 | =32748.5+(189750-160725)*32% |
| Marginal tax rate | 28.07% | =(42036.5-26034.5)/57000 |
| b | ||
| Taxable income | 75750 | =132750-57000 |
| Tax on $75750 | 12523.5 | =4543+(75750-39475)*22% |
| Marginal tax rate | 23.70% | =(26034.5-12523.5)/57000 |
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