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Question
Table 18-9| Income Tax Bracket | Marginal Tax Rate |
| $0 - 6,000 | 10% |
| 6,001 - 20,000 | 15% |
| 20,001 - 44,500 | 22% |
| 44,501 and over | 30% |
Table 18-9 shows the income tax brackets and tax rates for single taxpayers in Monrovia.
Refer to Table 18-9. Sylvia is a single taxpayer with an income of $70,000. What is her marginal tax rate and what is her average tax rate?
A) marginal tax rate = 30%; average tax rate = 30%
B) marginal tax rate = 8%; average tax rate = 19.3%
C) marginal tax rate = 30%; average tax rate = 22.5%
D) marginal tax rate = 20%; average tax rate = 30%
Answer
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