Suppose Cameron earns $100,000 per year but must pay income taxes according to the tax schedule given in the table to the right. According to the chart, the income tax Cameron faces is a Assume Cameron has no tax exemptions or deductions. How much in income taxes must Cameron pay? Cameron must pay $ in income taxes. (Enter your response as a whole number.) tax. Assume Cameron has no tax exemptions or deductions. What is his marginal tax rate? What is his average tax rate? % and his average tax rate is Cameron's marginal tax rate is responses as whole numbers.) %. (Enter your Income $0 to $9,000 $9,001 to $33,000 $33,001 to $70,000 $70,001 to $147,000 $147,001 and up Tax Rate (%) 10 15 25 30 40
Suppose Cameron earns $100,000 per year but must pay income taxes according to the tax schedule given in the table to the right. According to the chart, the income tax Cameron faces is a Assume Cameron has no tax exemptions or deductions. How much in income taxes must Cameron pay? Cameron must pay $ in income taxes. (Enter your response as a whole number.) tax. Assume Cameron has no tax exemptions or deductions. What is his marginal tax rate? What is his average tax rate? % and his average tax rate is Cameron's marginal tax rate is responses as whole numbers.) %. (Enter your Income $0 to $9,000 $9,001 to $33,000 $33,001 to $70,000 $70,001 to $147,000 $147,001 and up Tax Rate (%) 10 15 25 30 40
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Design Of The Tax System
Section: Chapter Questions
Problem 2PA
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