What is the marginal and average tax rate for each family

Reference no: EM13220819

Suppose the tax rate on the first $10K income is 0: 10% on the next $20K; 20% on the next $20,000; 30% on the next $30K; and 40% on any income over $80K. Family A has income of $40K and Family B has income of $100K. What is the marginal and average tax rate for each family?

Reference no: EM13220819

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