Using the marginal income tax rates shown below, what is the average tax rate on incomes of $100,000 and $200,000? Give all answers to two decimals.
Using the marginal income tax rates shown below, what is the average tax rate on incomes of $100,000 and $200,000? Give all answers to two decimals.
a. Average tax rate on $100,000 of income: 
%
b. Average tax rate on $200,000 of income: %
Homework Answers
Here,
| Taxable income | Tax Rate |
| 0 - 9075 | 10% |
| 9076 - 36900 | 15% |
| 36901 - 89350 | 25% |
| 89351 - 186350 | 28% |
| 186351 - 405100 | 33% |
| 405101 - 406750 | 35% |
| Over 406751 | 39.6% |
Now for $100000, tax will be
= 10%* 9075 + 15%* (36900-9075)+25%*(89350-36900) + 28%*(100000 - 89350)
= 907.5 + 4173.75 + 13112.5+2981.72 = 21175.47
So Average Tax rate will be = 21175.47/ 100000 = 21.18%
Now for $200000, tax will be
= 10%* 9075 + 15%* (36900-9075)+25%*(89350-36900) + 28%*(186350 - 89350)+33%*(200000 - 186350)
= 907.5 + 4173.75 + 13112.5+27160+4504.5 = 49858.25
So Average Tax rate will be = 49858.25/ 200000 = 24.93%
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Using the marginal income tax rates shown below, what is the average tax rate on incomes of $100,000 and $200,000? Give all answers to two decimals.
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Use the marginal income tax rates shown here to calculate the
average tax rate on an income of $100,000.
Taxable Income
Tax rate
$0–$8,700
10%
$8,700–$35,350
15%
$35,350–$85,650
25%
$85,650–$178,650
28%
$178,650–$388,350
33%
Over $388,350
35%
Average tax rate on $100,000 of income is ____________.
21.46%
24.27%
28.00%
10.5 points
QUESTION 2
Use the marginal income tax rates shown here to calculate the
average tax rate on an income of $200,000.
Taxable Income
Tax rate
$0–$8,700
10%
$8,700–$35,350
15%...
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with the same income? Use Table 3.7. (Do not round
intermediate calculations. Enter the marginal tax rate as a percent
rounded to 1 decimal place. Enter the average tax rate as a percent
rounded to 1 decimal place.)
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