The Country of Valhalla Levies an Income Tax with the Following

Essay

The country of Valhalla levies an income tax with the following rate structure.
Rate Income bracket
5% $-0- to $50,000+ 10% $50,001 to $150,000+ 20% $150,001 and above
A. Mrs Greene's annual income is $125,000. Compute her tax, her average tax rate, and her marginal tax rate.
B. Mr Chen's annual income is $220,000. Compute his tax, his average tax rate, and his marginal tax rate.
C. Does Valhalla have a proportionate, progressive, or regressive tax rate structure?