Homework Answers
| Tax on $400000 | 115193.5 | =46628.5+(400000-204100)*35% |
| a | ||
| Taxable income | 415000 | =400000+15000 |
| Tax on $415000 | 120443.5 | =46628.5+(415000-204100)*35% |
| Marginal tax rate | 35% | =(120443.5-115193.5)/15000 |
| b | ||
| Taxable income | 385000 | =400000-15000 |
| Tax on $415000 | 109943.5 | =46628.5+(385000-204100)*35% |
| Marginal tax rate | 35% | =(115193.5-109943.5)/15000 |
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