Questions: Determine the tax liability, marginal tax rate, and average tax rate in each of the following cases. Use the tax tables to determine tax liability. a. Married taxpayers, taxable income of 97,463. b. Married taxpayers, taxable income of 66,829. Note: For all requirements, round "Average tax rate" to 2 decimal places.

To determine the tax liability, marginal tax rate, and average tax rate for the given cases, we need to refer to the IRS tax tables for the relevant tax year. For this example, let's assume we are using the 2022 tax tables for married taxpayers filing jointly.

1. 10% on income up to $20,550
2. 12% on income over $20,550 up to $83,550
3. 22% on income over $83,550 up to $178,150
4. 24% on income over $178,150 up to $340,100
5. 32% on income over $340,100 up to $431,900
6. 35% on income over $431,900 up to $647,850
7. 37% on income over $647,850

1. First $20,550: $20,550 * 10% = $2,055
2. Next $63,000 ($83,550 - $20,550): $63,000 * 12% = $7,560
3. Remaining $13,913 ($97,463 - $83,550): $13,913 * 22% = $3,060.86

Total Tax Liability: $2,055 + $7,560 + $3,060.86 = $12,675.86

Marginal Tax Rate: The marginal tax rate is the rate applied to the last dollar of income, which in this case is 22%.

Average Tax Rate: The average tax rate is the total tax liability divided by the total taxable income. \[ \text{Average Tax Rate} = \frac{\$12,675.86}{\$97,463} \approx 13.01\% \]

1. First $20,550: $20,550 * 10% = $2,055
2. Remaining $46,279 ($66,829 - $20,550): $46,279 * 12% = $5,553.48

Total Tax Liability: $2,055 + $5,553.48 = $7,608.48

Marginal Tax Rate: The marginal tax rate is the rate applied to the last dollar of income, which in this case is 12%.

Average Tax Rate: The average tax rate is the total tax liability divided by the total taxable income. \[ \text{Average Tax Rate} = \frac{\$7,608.48}{\$66,829} \approx 11.39\% \]

\[ \begin{tabular}{|l|l|l|l|} \hline & Tax liability & Marginal tax rate & Average tax rate \\ \hline a. & \$12,675.86 & 22\% & 13.01\% \\ \hline b. & \$7,608.48 & 12\% & 11.39\% \\ \hline \end{tabular} \]

This table summarizes the tax liability, marginal tax rate, and average tax rate for the given taxable incomes.