Erin pays $1,000 in taxes on $20,000 of gross income. If her income were to rise by $5,000, her ...

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Erin pays $1,000 in taxes on $20,000 of gross income. If her income were to rise by $5,000, her ...

Erin pays $1,000 in taxes on $20,000 of gross income. If her income were to rise by $5,000, her taxes would increase from $1,000 to $1,500. Given this information, her marginal tax rate is
A) 10%.
B) 8%.
C) 5%.
D) 20%.

Textbook

Personal Finance: An Integrated Planning Approach

Edition: 8^th

Author: Frasca

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