What is his marginal tax rate in percentage terms

Reference no: EM13180665

1. The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $69971, then what is his marginal tax rate, in percentage terms?
2. The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $87989, then what is his average tax rate, in percentage terms?

Reference no: EM13180665

Questions Cloud

State the two mass balances to find the concentrations : Suppose that Mt=Lt=0.1M (exactly) and the pH is somehow fixed at 5.00. (This means that the charge balance no longer applies.) Use the equilibria and the two mass balances to find the concentrations of ML+, M+2, L-, HL.

Compute the annual payment of the savings account : The parents of a young child decide to make equal annual payments into a savingsaccount, with the first payment being made on the child's fifth birthday and the last payment being made on the fifteenth birthday. Then a rotal of four withdrawals of..

Explain which dissociates into mercurous ion : calculate the concentration of Hg2 +2 in a saturated aqueous solution of (Hg2)3[Co(CN)6]2 which dissociates into mercurous ion and Co(CN)6 -3 (cobalticyanide).

Components of the audit planning stages : Components of the audit planning stages, how to understand the client's business and what the risk assessment portions of audit planning are

What is his marginal tax rate in percentage terms : The income tax system in a country requires each citizen to pay 10% of income on earnings up to $40,000, and then pay 20% on any earnings over $40,000. If an individual has an income of $69971, then what is his marginal tax rate, in percentage te..

State balance equations for aluminum and potassium : KOH are diluted to 1L to give the same species produced by Al(OH)3. Write mass balance equations for aluminum and potassium.

State what ionic compounds will precipitate out of solution : The following three solutions are mixed: 90.0mL of 0.110M Na2SO4 , 45.0mL of 0.250M ZnCl2 , and 100.0mL of 0.20M Ba(CN)2. What ionic compounds will precipitate out of solution? Express as a chemical formula.

Define the quantitative species inventory for the system : Give the quantitative species inventory for the system which ultimately results from mixing 2.55mols Cl2, 1.20mols Br2, 1.25mols I2,

Compute the irr of the project : Based on the relative version of purchasing power parity relationship, calculate the expected appreciation/depreciation in euro and forecast the expected exchange rate for the next 10 years. ii. Develop the timeline of cash flows (years 0 - 10) in ..

User Account

All Pages