The country of Valhalla levies an income tax with the following rate structure.
$\begin{array}{rr}\text { Rate } & \text { Income bracket } \
58 & \$-0-\text { to } \$ 50,000 \
+108 & \$ 50,001 \text { to } \$ 150,000 \
+208 & \$ 150,001 \text { and above }
\end{array}$ Mrs. Greene's annual income is $125,000. Compute her tax, her average tax rate, and her marginal tax rate.Mr. Chen's annual income is $220,000. Compute his tax, his average tax rate, and his marginal tax rate.Does Valhalla have a proportionate, progressive, or regressive tax rate structure?

Question

The country of Valhalla levies an income tax with the following rate structure.
 $\begin{array}{rr}\text { Rate } & \text { Income bracket } \
58 & \$-0-\text { to } \$ 50,000 \
+108 & \$ 50,001 \text { to } \$ 150,000 \
+208 & \$ 150,001 \text { and above }
\end{array}$ Mrs. Greene's annual income is $125,000. Compute her tax, her average tax rate, and her marginal tax rate.Mr. Chen's annual income is $220,000. Compute his tax, his average tax rate, and his marginal tax rate.Does Valhalla have a proportionate, progressive, or regressive tax rate structure?

Quizplus · Accepted Answer

The Answer of The country of Valhalla levies an income tax with the following rate structure.
 $\begin{array}{rr}\text { Rate } & \text { Income bracket } \
58 & \$-0-\text { to } \$ 50,000 \
+108 & \$ 50,001 \text { to } \$ 150,000 \
+208 & \$ 150,001 \text { and above }
\end{array}$ Mrs. Greene's annual income is $125,000. Compute her tax, her average tax rate, and her marginal tax rate.Mr. Chen's annual income is $220,000. Compute his tax, his average tax rate, and his marginal tax rate.Does Valhalla have a proportionate, progressive, or regressive tax rate structure?

The Country of Valhalla Levies an Income Tax with the Following