Solved: Determine the marginal tax rate on the income, Taxation

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Determine the marginal tax rate on the income

Response to the following problem:

Chuck, a single taxpayer, earns $164,500 in taxable income and $18,200 in interest from an investment in City of Heflin bonds. (Using the U.S. tax rate schedule).

a. If Chuck earns an additional $71,000 of taxable income, what is his marginal tax rate on this income?

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Taxation: Determine the marginal tax rate on the income

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Taxation: Determine the marginal tax rate on the income

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