Question

TAXABLE INCOME	TAX RATE
$ 0-----------------               $8,700	10%
$ 8,700 -----------                $ 35,350	15%
$35,350-----------                 $85,650	25%
$85,650------------                $178,650	28%
$178,650------------                $388,350	33%
OVER------------------                $388,350	35%

Use the Marginal Income Tax Rate above to compute the following:

1. Tax Due on Taxable Income of $50,000; $200,000; and $500,000.
2. Average Tax Rate (ATR) on Taxable Income of $50,000; $200,000; $500,000.

Answer 1

​​​​​​Tax due on taza ke income of $50,000 will be $8,530

On $200,000 it will be $50,528

On $500,000 taxable income Tax will be $151,761