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If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, ...

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If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, ...

Question 1.

If your income is $92,000 and you pay taxes of $19,475, what is your average tax rate? Show your work.

Question 2.

If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, what is your marginal tax rate? Show your work.

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Edition: 1^st

Authors: Hubbard, O'Brien

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