Table: Tax Brackets Consider the Tax Brackets Shown in the Accompanying Table

question 116

Essay

Table: Tax Brackets $$\begin{array} { l c } \hline \text { Income (\$) } & \begin{array} { c } \text { Marginal tax rate } \\( \% )\end{array} \\\hline 0 - 17,000 & 10 \\17,001 - 69,000 & 15 \\69,001 - 139,350 & 25 \\139,351 - 212,300 & 28 \\212,301 - 379,150 & 33 \\379,151 \text { and above } & 35 \\\hline\end{array}$$
Consider the tax brackets shown in the accompanying table. If your income is $90,000, what will be your tax liability, marginal tax rate, and average tax rate?

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