Joan Sanchez is single and earns $40,000 in taxable income. She uses the following tax rate schedule to calculate the taxes she owes. What is Joan's marginal tax rate?

Question

Quizplus · Accepted Answer

Based on the tax rate schedule provided, Joan's taxable income falls within the range of $39,476 to $84,200, which corresponds to a tax rate of 25%. Therefore, Joan's marginal tax rate is 25%.

Joan Sanchez Is Single and Earns $40,000 in Taxable Income