Eccentricity, Inc. had $300,000 in 2018 taxable income. Using the tax schedule from Table 2.3, what are the company's 2018 income taxes, average tax rate, and marginal tax rate, respectively?
$$\begin{array} { l c c c }
& \text { Pay this amount on } & \text { Plus this percentage on } \
\text { Taxable income } & \text { Base income } & \text { anything over the base } \
\$ 0 - \$ 50,000 & \$ 0 & 15 \% \
\$ 50,001 - \$ 75,000 & \$ 5,700 & 25 \% \
\$ 75,001 - \$ 100,000 & \$ 13,750 & 34 \% \
\$ 100,001 - \$ 335,000 & \$ 22,250 & 39 \% \
\$ 335,000 - \$ 10,000,000 & \$ 113,900 & 34 \%
\end{array}$$

Question

Eccentricity, Inc. had $300,000 in 2018 taxable income. Using the tax schedule from Table 2.3, what are the company's 2018 income taxes, average tax rate, and marginal tax rate, respectively?
$$\begin{array} { l c c c } 
& \text { Pay this amount on } & \text { Plus this percentage on } \
\text { Taxable income } & \text { Base income } & \text { anything over the base } \
\$ 0 - \$ 50,000 & \$  0 & 15 \% \
\$ 50,001 - \$ 75,000 & \$ 5,700 & 25 \% \
\$ 75,001 - \$ 100,000 & \$ 13,750 & 34 \% \
\$ 100,001 - \$ 335,000 & \$ 22,250 & 39 \% \
\$ 335,000 - \$ 10,000,000 & \$ 113,900 & 34 \%
\end{array}$$

Quizplus · Accepted Answer

The Answer of Eccentricity, Inc. had $300,000 in 2018 taxable income. Using the tax schedule from Table 2.3, what are the company's 2018 income taxes, average tax rate, and marginal tax rate, respectively?
$$\begin{array} { l c c c } 
& \text { Pay this amount on } & \text { Plus this percentage on } \
\text { Taxable income } & \text { Base income } & \text { anything over the base } \
\$ 0 - \$ 50,000 & \$  0 & 15 \% \
\$ 50,001 - \$ 75,000 & \$ 5,700 & 25 \% \
\$ 75,001 - \$ 100,000 & \$ 13,750 & 34 \% \
\$ 100,001 - \$ 335,000 & \$ 22,250 & 39 \% \
\$ 335,000 - \$ 10,000,000 & \$ 113,900 & 34 \%
\end{array}$$

Eccentricity, Inc A) $22,250, 7