Refer to Scenario 19.1 below to answer the question(s) that follow. SCENARIO 19.1: An individual earning $60,000 pays $12,000 in taxes. The marginal tax rate on any income earned above $60,000 is 25%. Refer to Scenario 19.1. When this person earns $70,000, her tax payment would be
A. $2,500.
B. $14,500.
C. $17,500.
D. indeterminate from this information.
Answer: B
Economics
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