MaKenna earns income of $80,000 per year.Her average tax rate is 50 percent.MaKenna paid $7000 in taxes on the first $30,000 she earned.What was the marginal tax rate on the first $30,000 she earned,and what was the marginal tax rate on the remaining $50,000
A) 16.25 percent and 50.00 percent
B) 18.00 percent and 60.00 percent
C) 20.00 percent and 20.00 percent
D) 23.33 percent and 66 percent
Correct Answer:
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A)a
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