What is patricia’s marginal tax rate

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Reference no: EM13825117

Patricia has taxable income of $40,000 on which she pays income tax of $5,935. If Patricia’s taxable income increases by $2,000, she will pay an additional tax of $500. What is Patricia’s marginal tax rate?

a. 15.00 percent

b. 14.84 percent

c. 15.32 percent

d. 25.00 percent

e. None of the above

Reference no: EM13825117

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