​calculate the marginal and average tax rate

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calculate the marginal and average tax rates for this incomes with the table below

1. Y= $30,000

2. Y= $70,000

3. Y= $130,000

4. Y= $600,000

Income BracketsMarginal Tax Rate
              0    -  $10,0005%
$10,000    -  $30,00010%
$30,000    -  $60,00015%
$60,000    -  $100,00020%
$100,000  - $300,00025%
$300,000  -  $600,00030%
$600,000  -  40%

Oct 7th, 2015

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Oct 7th, 2015

So, required answers are as mentioned below -

Income                  Average tax rate            Marginal tax rate

$30,000                         8.33%                             10.00%                                     

$70,000                         12.86%                           20.00%

$130,000                        17.31%                           25.00%

$600,000                         25.83%                         30.00%

Oct 7th, 2015

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