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The Tappan family has a taxable income of $50,000. Tax tables indicate that the first $20,000...

The Tappan family has a taxable income of $50,000. Tax tables indicate that the first $20,000 of income will be taxed at 24% and all income above $20,000 will be taxed at 30%. What is the Tappan's marginal and average tax rates?
a. Marginal = 29.8%; Average = 30.0%
b. Marginal = 28.2%; Average = 27.6%
c. Marginal = 30.0%; Average = 30.0%
d. Marginal = 30.0%; Average = 27.6%
e. Marginal = 24.0%; Average = 30.0%

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