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28 Sep 2019
Refer to the table below: 2014 Tax Data Tax Bracket
Marginal Tax Rate
0% $0-9,075
10% $9,075-36,900
15% $36,900-89,350
25% $89,350-186,350
28% $186,350-405,100
33% $405,100-406,750
35% and over $406,750 39.6
Compute the taxes on a taxable income of $25,000 in order to answer the following questions.
a) What is the marginal tax rate? Instructions: Enter your responses as a percentage rounded to the nearest whole number.
b) What is the nominal tax rate? ______% Instructions: Enter your responses as a percent rounded to the nearest two decimal places.
Refer to the table below: 2014 Tax Data Tax Bracket
Marginal Tax Rate
0% $0-9,075
10% $9,075-36,900
15% $36,900-89,350
25% $89,350-186,350
28% $186,350-405,100
33% $405,100-406,750
35% and over $406,750 39.6
Compute the taxes on a taxable income of $25,000 in order to answer the following questions.
a) What is the marginal tax rate? Instructions: Enter your responses as a percentage rounded to the nearest whole number.
b) What is the nominal tax rate? ______% Instructions: Enter your responses as a percent rounded to the nearest two decimal places.
Joshua StredderLv10
28 Sep 2019