Answer:
Step-by-step explanation:
Your taxes are estimated at $711.
This is 2.99% of your total income of $23,760. 2.99% would also be your average tax rate. Your income puts you in the 10% tax bracket. At higher incomes, exemptions, many deductions and many credits are phased out. This increases your tax bill and your marginal tax rate. With these phase outs, adding $1,000 to your income would result in a 10% marginal tax rate.
