Alan is a single taxpayer with a gross income of $88,000,a taxable income of $66,000,and an income tax liability of $12,239 for 2017.Josh also has $8,000 of tax-exempt interest income.What are Alan's marginal,average,and effective tax rates?
A) 25% marginal;16.5% average;18.5% effective.
B) 28% marginal;15.9% average;21.5% effective.
C) 28% marginal;16.5% average;21.5% effective.
D) 25% marginal;13.9% average;16.5% effective.
Correct Answer:
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