USE THIS INFORMATION FOR THE NEXT THREE QUESTIONS.
A federal tax table contains the following excerpt:
If taxable income is:

-A person has adjusted gross income of 15,000 and taxable of 10,125. In what marginal rate bracket is that person?

Question

USE THIS INFORMATION FOR THE NEXT THREE QUESTIONS.
A federal tax table contains the following excerpt:
If taxable income is:

-A person has adjusted gross income of 15,000 and taxable of 10,125. In what marginal rate bracket is that person?

Quizplus · Accepted Answer

Based on the given tax table excerpt, a taxable income of $10,125 falls within the range of $9,876 to $40,125. This range corresponds to a marginal tax rate of 24%.