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Tax Liability Calculation, Marginal and Average Tax Rates for Various Filing Status (LO
Tax Liability Calculation, Marginal and Average Tax Rates for Various Filing Status (LO. 1) A taxpayer has $92,740 of taxable income for 2020. Determine the total tax, the marginal tax rate, and the average tax rate if the taxpayer is a a. Single individual b. Married couple filing jointly c. Corporation Do not round intermediate computations. Use the 2020 tax rate schedule (Appendix D). Do not round your intermediate calculations. Round your final answers to two decimal places. Taxpayer Total Tax Marginal Tax Rate Average Tax Rate a. Single individual % % b. Married couple % % C. Corporation % %
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