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If Personal Income Up to and Including $25,000 Is Not

Question 74

Multiple Choice

If personal income up to and including $25,000 is not taxed, income of $25,001 to $50,000 is taxed at 10%, and income over $50,000 is taxed at 25%, a family earning income equal to $60,000 will pay a marginal tax rate of _____ and an average tax rate of _____.


A) 12.5%; 25%
B) 10%; 15%
C) 25%; 8.3%
D) 25%; 25%

Correct Answer:

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