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Table 18-9 shows the income tax brackets and tax rates for single taxpayers in Monrovia.

barmour44

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Table 18-9 shows the income tax brackets and tax rates for single taxpayers in Monrovia.

Table 18-9

Income Tax Bracket	Marginal Tax Rate
$0 - 6,000	10%
6,001 - 20,000	15%
20,001 - 44,500	22%
44,501 and over	30%

Table 18-9 shows the income tax brackets and tax rates for single taxpayers in Monrovia.

Refer to Table 18-9. Sylvia is a single taxpayer with an income of $70,000. What is her marginal tax rate and what is her average tax rate?

▸

marginal tax rate = 20%; average tax rate = 30%

▸

marginal tax rate = 8%; average tax rate = 19.3%

▸

marginal tax rate = 30%; average tax rate = 30%

▸

marginal tax rate = 30%; average tax rate = 22.5%

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Edition: 1^st

Authors: Hubbard, O'Brien

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