Problem 1-48 (LO 1-2, 1-4) Determine the tax liability, marginaltax rate, and average tax rate in each of the following cases. (Usethe tax tables to compute tax liability. Round “Average tax rate”to 2 decimal places.)
Use the below Form 1040EZ Tax Tables.
Married taxpayers, who file a joint return, have taxable incomeof $29,464. Single taxpayer, has taxable income of $97,137.
Tax liability Margin tax rate Average tax rate
a.__________ __________% __________%
b. __________ __________ % __________%
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