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The income tax requires that taxpayers pay 10 percent on

The income tax requires that taxpayers pay 10 percent on the first $50,000 of income and 20 percent on all income over $50,000. Elizabeth paid $9,250 in taxes. What were her marginal and average tax rates?

20 percent and 13 percent, respectively
15 percent and 12 percent, respectively
20 percent and 11 percent, respectively
10 percent and 12 percent, respectively

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Business Management: The income tax requires that taxpayers pay 10 percent on

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