Consider the economy of Cocoland, where citizens consume only coconuts.Assume that cocnuts are priced at

1. Principles of tax equity The mayor of Vancouver wants to upgrade the public transportation system. In order to fund the improvements, the mayor proposes charging an extra $1 for each ride taken. 2. Computing and interpreting average tax rates In a hypothetical economy... The following table shows the annual taxable income and tax liability for these three single individuals... 3. Understanding marginal and average tax rates Consider the economy of Cocoland, where citizens consume only coconuts. Assume that coconuts are priced at $1 each. The government has devised the following tax plans: 4. Taxes paid for a given income level Akshay is single and lives in Thunder Bay. Akshay earned $60,000 in 2013. The following table shows the federal tax rate for individuals in 2013. Fill in the following table with Akshay’s marginal tax rate, total amount of taxes owed, and average tax rate for 2013.