What is their tax due-average tax rate-effective tax rate

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Reference no: EM131259989

Bill and Mercedes have $140,000 of taxable income and additional $10,000 of nontaxable income. Using the 2015 married-joint tax rates, what is their tax due, average tax rate, and effective tax rate? If they receive an additional $80,000 of taxable income, what is their marginal tax rate on this income?

Reference no: EM131259989

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