How much in taxes will you have to pay

Reference no: EM133396093

Question: In Taxland, the first $10,000 earned per year is exempt from taxation. Between $10,000.01 and $30,000, the tax rate is 25 percent. Between $30,000.01 and $50,000, it's 30 percent. Above $50,000, it's 35 percent. You're earning $80,000 a year. (LO18-4)

a.) How much in taxes will you have to pay?

b.) What is your average tax rate?

c.) What is your marginal tax rate?

Reference no: EM133396093

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