Table 12-1

-Refer to Table 12-1.If Betina has $170,000 in taxable income,her marginal tax rate is
A) 25%.
B) 28%.
C) 33%.
D) 35%.

Name: Table 12-1 -Refer to Table 12-1.If Betina has $170,000 in taxable income,her marginal tax rate is A) 25%. B) 28%. C) 33%. D) 35%.
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Question

Table 12-1
 
-Refer to Table 12-1.If Betina has $170,000 in taxable income,her marginal tax rate is
A) 25%. 
B) 28%. 
C) 33%. 
D) 35%.

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the last dollar of income is taxed. Based on the U.S. tax brackets for 2023, a taxable income of $170,000 falls within the 28% tax bracket.

Table 12-1 -Refer to Table 12-1.If Betina Has $170,000 in Taxable Income,her