Stephanie has taxable income of $45,400 and a tax liability of $7,285.If Stephanie's income increases by $2,000,her tax liability will be $7,785.
a.What is her average tax rate on the $45,400 of income?
b.What is her marginal tax rate?

Question

Quizplus · Accepted Answer

The Answer of Stephanie has taxable income of $45,400 and a tax liability of $7,285.If Stephanie's income increases by $2,000,her tax liability will be $7,785.
a.What is her average tax rate on the $45,400 of income?
b.What is her marginal tax rate?

Stephanie Has Taxable Income of $45,400 and a Tax Liability