Solved

If Joan Pays $5,000 in Taxes When She Earns $20,000

Question 76

Multiple Choice

If Joan pays $5,000 in taxes when she earns $20,000 and must pay $12,000 in taxes when she earns $30,000, she faces a marginal tax rate in this income range of


A) 25 percent.
B) 30 percent.
C) 40 percent.
D) 70 percent.

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