question 14\n1 pts\ntable 17-6\nincome tax bracket marginal tax rate\n$0 - 8,000 12%\n8,001 - 22,000…

question 14\n1 pts\ntable 17-6\nincome tax bracket marginal tax rate\n$0 - 8,000 12%\n8,001 - 22,000 17%\n22,001 - 48,000 25%\n48,001 and over 38%\ntable 17-6 shows the income tax brackets and tax rates for single taxpayers in calpernia.\nrefer to table 17-6. sasha is a single taxpayer with an income of $60,000. what is his marginal tax rate and what is his average tax rate?\no marginal tax rate = 38%; average tax rate = 23%\no marginal tax rate = 23%; average tax rate = 38%\no marginal tax rate = 17%; average tax rate = 21%\no marginal tax rate = 38%; average tax rate = 24%

question 14\n1 pts\ntable 17-6\nincome tax bracket marginal tax rate\n$0 - 8,000 12%\n8,001 - 22,000 17%\n22,001 - 48,000 25%\n48,001 and over 38%\ntable 17-6 shows the income tax brackets and tax rates for single taxpayers in calpernia.\nrefer to table 17-6. sasha is a single taxpayer with an income of $60,000. what is his marginal tax rate and what is his average tax rate?\no marginal tax rate = 38%; average tax rate = 23%\no marginal tax rate = 23%; average tax rate = 38%\no marginal tax rate = 17%; average tax rate = 21%\no marginal tax rate = 38%; average tax rate = 24%

Answer

Explanation:

Step1: Determine the marginal tax rate

Since Sasha's income of $60,000 is in the "48,001 and over" bracket, the marginal - tax rate is 38%.

Step2: Calculate the tax amount in each bracket

For the first $8,000, the tax is $8000\times0.12 = 960$. For the income from $8,001$ to $22,000$ ($22000 - 8000=14000$), the tax is $14000\times0.17 = 2380$. For the income from $22,001$ to $48,000$ ($48000 - 22000 = 26000$), the tax is $26000\times0.25=6500$. For the income above $48,000$ ($60000 - 48000 = 12000$), the tax is $12000\times0.38 = 4560$.

Step3: Calculate the total tax

The total tax is $960+2380 + 6500+4560=14400$.

Step4: Calculate the average tax rate

The average tax rate is $\frac{14400}{60000}\times100% = 24%$.

Answer:

marginal tax rate = 38%; average tax rate = 24%