Stephanie has taxable income of $48,200 and a tax liability of $7,913. If Stephanie's income increases by $4,000, her tax liability will be $8,913.

a.What is her average tax rate on the $48,200 of income?
b.What is her marginal tax rate?

Question

Stephanie has taxable income of $48,200 and a tax liability of $7,913. If Stephanie's income increases by $4,000, her tax liability will be $8,913.
​
a.What is her average tax rate on the $48,200 of income?
b.What is her marginal tax rate?

Quizplus · Accepted Answer

The Answer of Stephanie has taxable income of $48,200 and a tax liability of $7,913. If Stephanie's income increases by $4,000, her tax liability will be $8,913.
​
a.What is her average tax rate on the $48,200 of income?
b.What is her marginal tax rate?

Stephanie Has Taxable Income of $48,200 and a Tax Liability