Table 12-2
Consider the tax rates shown in the table below.

-Refer to Table 12-2.If Noah has taxable income of $43,000,his marginal tax rate is
A) 8%.
B) 16%.
C) 24%.
D) 34%.

Question

Table 12-2
Consider the tax rates shown in the table below.
 
-Refer to Table 12-2.If Noah has taxable income of $43,000,his marginal tax rate is
A) 8%. 
B) 16%. 
C) 24%. 
D) 34%.

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the last dollar of income is taxed. Based on typical tax brackets, $43,000 would fall into a bracket with a marginal tax rate of 24%.

Table 12-2 Consider the Tax Rates Shown in the Table Below