Hank makes $70,000 a year. Lilly makes $45,000 a year. He is taxed at a 25% Marginal rate, Lilly at 15%, This type of tax is called
Added by Megan B.
Step 1
Step 1: Calculate the amount of tax Hank pays Hank's taxable income = $70,000 Tax rate = 25% Tax amount = $70,000 * 25% = $17,500 Show more…
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