What is tax liability-marginal tax rate and average tax rate

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Jamie has taxable income of $45,000. She is single and her Tax rates are 10% on the first $7,000 of taxable income, 15% of the amount over $7,000 up to $28,400 of taxable income and 25% on the remainder. What is Jamie's tax liability, her marginal tax rate, and her average tax rate? (Show Work & Explain)

Reference no: EM131009939

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What is tax liability-marginal tax rate and average tax rate : Jamie has taxable income of $45,000. She is single and her Tax rates are 10% on the first $7,000 of taxable income, 15% of the amount over $7,000 up to $28,400 of taxable income and 25% on the remainder. What is Jamie's tax liability, her marginal ta..

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