Stephanie has taxable income of $48,200 and a tax liability of $6,468. If Stephanie's income increases by $4,000, her tax liability will be $7,348.
a. What is her average tax rate on the $48,200 of income?
b. What is her marginal tax rate?

Question

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The Answer of Stephanie has taxable income of $48,200 and a tax liability of $6,468. If Stephanie's income increases by $4,000, her tax liability will be $7,348.
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