Refer to Scenario 19.2 below to answer the question(s) that follow.SCENARIO 19.2: An individual earning $40,000 pays $3,200 in taxes. The marginal tax rate on any income earned above $40,000 is 20%.Refer to Scenario 19.2. When this person earns $60,000, her tax payment would be
A. $4,000.
B. $7,200
C. $12,000.
D. indeterminate from this information.
Answer: B
Economics
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