Calculate total tax due and average tax rate atr for single

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Given the following hypothetical U.S. Federal income tax brackets and marginal tax rates for single persons for 2011:

Taxable Income

Marginal Tax Rates

0 - $20,000

5%

$20,000 - 60,000

10%

$60,000 - 200,000

20%

Over $200,000

30%

Compute the total tax due AND the average tax rate (ATR) for a single person with taxable income in 2011 (show your calculations!) of

1. $5,000

2. $50,000

3. $500,000

4. Which tax structure is this, based on your values of ATR?

Reference no: EM13455964

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