​​calculate the marginal and average tax rates

Economics
Tutor: None Selected Time limit: 1 Day

calculate the marginal and average tax rates using 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

Thank you for the opportunity to help you with your question!

1) marginal tax = $30,000 of 10% =   $3, 000

2) marginal tax = $70,000 of 20 %  =   $14,000

3)  marginal tax = $130,000 of 30 %  =  $39,000

4. marginal tax   = $600,000 of 30%  = $180000


average tax = total tax paid / total income 



Please let me know if you need any clarification. I'm always happy to answer your questions.
Oct 7th, 2015

please  tell that  

1. Y= $30,000

2. Y= $70,000

3. Y= $130,000

4. Y= $600,000

annual income in year 

so that I  can calculate  average tax

 plz reply soon  

Oct 7th, 2015

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