What is his marginal tax rate in percentage terms

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Reference no: EM13180665

1. The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $69971, then what is his marginal tax rate, in percentage terms?
2. The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $87989, then what is his average tax rate, in percentage terms?

Reference no: EM13180665

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