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Graph the function. State the domain and range of the function.
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Taxable Income
This is the amount of income that is used to calculate how much tax an individual or a company owes to the government.
Marginal Rate
The rate at which one measure changes as another measure is incrementally increased, often used in financial and economic contexts.
Average Tax Rate
The percentage of total income allocated towards taxes, determined by dividing the taxpayer's total tax payment by their overall income.
Marginal Tax Rate
The tax rate applied to the last dollar of income, representing the rate at which additional income is taxed.
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