USE THE TAX TABLE PROVIDED BELOW FOR THE FOLLOWING PROBLEM(S)

-Refer to Exhibit 2.1. What is the marginal tax rate for a single individual with taxable income of $85,000?
A) 15%
B) 25%
C) 28%
D) 33%
E) 35%

Question

USE THE TAX TABLE PROVIDED BELOW FOR THE FOLLOWING PROBLEM(S)
 
-Refer to Exhibit 2.1. What is the marginal tax rate for a single individual with taxable income of $85,000?
A) 15% 
B) 25% 
C) 28% 
D) 33% 
E) 35%

Quizplus · Accepted Answer

According to the tax table provided, for a single individual with taxable income of $85,000, the tax bracket is between $82,501 and $157,500. The marginal tax rate for this bracket is 28%.