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There Is a 20% Tax on the First $15,000 of Income,a

Question 38

Multiple Choice

There is a 20% tax on the first $15,000 of income,a 30% tax on income above $15,000 until $30,000,and a 40% tax on all income above $30,000.What is the marginal tax rate for someone making $35,000?


A) 14.29%
B) 20%
C) 30%
D) 40%

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