If taxable income is over-- But not over-- The marginal tax rate for the bracket

Question

If taxable income is  over--

But not over--

The marginal tax rate for the bracket is:

$0

$11,000

9%

$11,000

$43,000

14%

$43,000

$105,000

24%

$105,000

$260,000

35%

$260,000

No limit

45%

a.       Suppose Mindy Simmons earned $75,000 in 2010.

i)                    Using the table above, what would her total tax payment be?

If taxable income is  over--

But not over--

The marginal tax rate for the bracket is:

$0

$11,000

9%

$11,000

$43,000

14%

$43,000

$105,000

24%

$105,000

$260,000

35%

$260,000

No limit

45%

Explanation / Answer

.09*11000+.14*(43000-11000)+.24*(75000-43000) and this equals 13150

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