81) If your income is $92,000 and you pay taxes of $19,475, what is your average tax rate? Show your

81) If your income is $92,000 and you pay taxes of $19,475, what is your average tax rate? Show your work.

82) If you pay $3,000 in taxes on an income of $28,000, and $4,450 in taxes on an income of $38,000, what is your marginal tax rate? Show your work.

83) If your income is $40,000 and you pay taxes of $4,650, what is your average tax rate? Show your work.

Table 18-10

Income Tax Bracket

Tax Rate

on the first $6,000 of taxable income

10%

on the next $14,000 of taxable income

15%

on the next $24,500 of taxable income

25%

on the next $30,500 of taxable income

30%

Table 18-10 shows the income tax brackets and tax rates for single taxpayers in Bauxhall.

84) Refer to Table 18-10. A tax exemption is granted for the first $10,000 earned per year. Suppose you earn $75,000.

a.What is the amount of taxes you will pay?

b.What is your average tax rate?

c. What is your marginal tax rate?

85) Suppose, on average, a family in Church Falls earning $60,000 per year paid 6 percent of its income in state taxes. A family earning $80,000 paid, on average, $4,760 in state income taxes. Are state taxes in Church Falls progressive or regressive? Be sure to explain the difference between a progressive tax and a regressive tax.

86) Last year, Anthony Millanti earned exactly $30,000 of taxable income. Assume that the income tax system used to determine Anthony's tax liability is progressive. The table below lists the tax brackets and the marginal tax rates that apply to each bracket.

a. Draw a new table that lists the amounts of income tax that Anthony is obligated to pay for each tax bracket, and the total tax he owes the government. (Assume that there are no allowable tax deductions, tax credits, personal exemptions or any other deductions that Anthony can use to reduce his tax liability).