Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. economics
  3. \table[[income bracket,marginal tax rate],[$,-,$4,

\table[[Income Bracket,Marginal Tax Rate],[$,-,$4,885.00,10.25%],[$,4,885.00,$7,755.20,16.85%],[$,7,755.20,$15,595.15,22.85%],[$,15,595.15,orHigher,41.25%],[Additional Surtax],[,,15.75% on Income Between$3,400 and $10,950],[,,27.55% on Income Between $8,400 and$14,950]]...

90.2K

Verified Solution

Question

Economics

\table[[Income Bracket,Marginal Tax Rate],[$,-,$4,885.00,10.25%],[$,4,885.00,$7,755.20,16.85%],[$,7,755.20,$15,595.15,22.85%],[$,15,595.15,orHigher,41.25%],[Additional Surtax],[,,15.75% on Income Between$3,400 and $10,950],[,,27.55% on Income Between $8,400 and$14,950]] After the COVID-19 pandemic, Marissa has a taxable incomeof $6,085.75. Given the information above, her average tax rate isclosest to

?

17.11%.

18.50%

19.98%.

21.26%
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

CH 15 ± Using the Equilibrium Constant 1) Part A Initially, only A and B are present, each at...

Chemistry
Q

A block with a mass of 3.2 kg is pulled by a force of 60...

Physics
Q

An Internet service provider has three different subscription packages for its customers: Package A: $9.95 per month...

Mechanical Engineering
Q

Problem 2: Plot the LST (y?axis) corresponding to 10:00 AM versus months (x?axis) (consider the 21st...

Mechanical Engineering
Q

5. How many types of viruses cause influenza?A. Five types: A, B, C, D, and...

Biology
Q

Name two pairs of congruent angles for each circle b ZCBD BOA B ZDAC D...

Geometry
Q

A business sets up a sinking fund so they will have a 46 000 00...

Basic Math
Q

Line jin the xy plane contains the point 2 8 and is parallel to the...

Basic Math
Q

Statistics SP1 2023 xam Study Guide K 10 The accompanying table contains the service ratings...

Statistics
Q

Per article Tax Fraud: The Pitfalls of Representing Clients Before the IRS, Any statement made...

Accounting
Q

Simon Company's year-end balance sheets follow. For both the current year and one year ago,...

Accounting
Q

Geothermal's WACC is 10.4%. Executive Fruit's WACC is 11.3%. Now Executive Fruit is considering an...

Finance