Question

Oakdale Fashions, Inc., had $275,000 in 2015 taxable income. Use the tax schedule in Table 2.3...

Oakdale Fashions, Inc., had $275,000 in 2015 taxable income.
Use the tax schedule in Table 2.3 to calculate the company’s 2015 income taxes.
  Income taxes $   

What is the average tax rate? (Round your answer to 2 decimal places.)
  Average tax rate %

What is the marginal tax rate?
  Marginal tax rate %
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Homework Answers

Answer #1

a) Income taxes = Income taxes = 22250+ (275000-100000) x 39%

= 90,500

b) Average tax rate Average tax rate 90,500/275000 x 100

= 32.91%

c) Marginal tax rate 39%

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