Bracketed income tax system-what is your marginal tax rate

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Reference no: EM131070616

The Nation of Taxylvania uses a bracketed income tax system. The tax brackets are listed below. Use this information to answer the next three questions. Round your answers to the nearest whole dollar.

income tax rate

0-14,999 10%

15,000-39,999 15%

40,000 and over 20%

earn 100,000 per year

What is your marginal tax rate? Round your answer to two decimal places.

Reference no: EM131070616

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