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Alik [6]
3 years ago
6

What are the tax liability, the marginal tax rate, and the average tax rate for a married couple filing jointly with $51,900 tax

able income?
Business
1 answer:
Pachacha [2.7K]3 years ago
5 0

Answer:

Tax Liability: $5,840

Marginal Tax Rate: 12%

Average Tax Rate: 11%

Explanation:

*The tax liability is determined using the tax rate for 2019 tax bracket.

For married couple filling jointly, the tax rates for taxable income of $51,900 are:

Tax Rate                  Income Bracket

10%                          $0 – $19,400

12%                           $19,401 – $78,950

So the tax liability will be:

10% * $19,400 = $1,940                            (first $19,400)

12% * $32,500 = $3,900                           (Balance of $32,500)

Total tax liability = $5,840.

*Marginal tax rate is the tax rate paid on the last unit of income, the last dollar.  In this case, the last dollar was taxed at 12%. Hence the marginal tax rate is 12%.

*Average tax rate is the proportion of taxable income that is to be paid as tax. It is derived by dividing the tax liability by taxable income.

Average tax rate =<u> $5840</u>

                               $51,900

Average tax rate =11.2524%

Average tax rate = 11% (rounded up to whole figure)

         

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Answer: B. Was formed

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he Raven Co. has just gone public. Under a firm commitment agreement, Raven received $18.60 for each of the 30 million shares so
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Answer:

11.14%

Explanation:

Fund raised is the actual amount raised when the share is offered for sale in the market. Since the price of the shares fluctuated, this can be calculated by getting the average of $19.40 per share which is the initial offering price and $22.40 per share which the stock rose to in the first few minutes of trading and then multiply it by the 30 million shares sold. This calculated as:

Fund raised = [($19.40 + $22.40) ÷ 2] × 30,000,000

                    = $20.90  × 30,000,000

                    = $627,000,000  

Amount received by Raven can be calculated by multiplying the amount received per share of $18.60 by the 30 million shares sold. This is given as follows:

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Flotation cost is the addition of all expenses a company spent when it offers its securities for sale to the public. These expenses include underwriting fees, registration fees, and legal fees.

From the question, the floating cost is therefore the addition of direct legal and other costs of $640,000 and indirect costs of $220,000 paid by Raven as well as the difference between the amount raised and the amount received by Raven (i.e. $627,000,000 - $558,000,000 = $69,000,000). This floating cost calculation is given as follows:

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                                                                                    =  0.1114 × 100

                                                                                     = 11.14%

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