Chuck, a single taxpayer, earns $79,000 in taxable income and $10,000 in interest from an investment in City of Heflin bonds. (Use the U. S. tax rate schedule.) Income and $19,900 in interest from an investment in City of Heflin bonds. (Use the U. S tax rate schedule.)
Required:
a. How much federal tax will he owe?
b. What is his average tax rate?
c. What is his effective tax rate?
d. What is his current marginal tax rate?
Complete this question by entering your answers in the tabs below Req B Req D Req A Req C What is his average tax rate? (Do not round intermediate calculations. Round total tax to 2 decimal places.) Average Tax Rate Choose numeratorChoose denominator Total tax Taxable income 8,479.50 14.88% 57,000

Base        9890079000

tax excess8552540125

Excess         1337538875

%                    24%    22%

tax  1         32108552.5

tax 2 additional14605.5plus  24% of the excess 85.525

                                               4617.5 plus  22% of the excess 40.125

total tax(tax1+tax2) 17815.5__13170

Change in tax  

(17.815 - 13.170) / (98,900 - 79,000) =  

4.645,5 / 19.900 = 23.34%

Explanation:

Base        9890079000

tax excess8552540125

Excess         1337538875

%                    24%22%

tax  1         32108552.5

tax 2 additional14605.54617.5

total tax                17815.513170

Change in tax  

(17.815 - 13.170) / (98,900 - 79,000) =  

4.645,5 / 19.900 = 23.34%  

answer; communities of interest; i believe this is correct, plz check first good luck;