Buyers receive a consumer surplus when the price exceeds the marginal benefit

The yield to maturity is equal to

A) the interest rate at which the present value of an asset's returns is equal to its price today. B) the face value or par value of a coupon bond. C) any payments received from an asset at the date the asset matures. D) interest rate on the asset minus any taxes owed on the interest received.

Costas faces a progressive federal income tax structure that has the following marginal tax rates: 0 percent on the first $10,000 . 10 percent on the next $10,000 . 15 percent on the next $10,000 . 25 percent on the next $10,000 . and 50 percent on all additional income. In addition, he must pay 5 percent of his income in state income tax and 15.3 percent of his labor income in federal payroll

taxes. Costas earns $70,000 per year in salary and another $20,000 per year in non-labor income. What is his average tax rate, and what is his marginal tax rate on his salary? a. His average tax rate is 17.19 percent, and the marginal tax rate on his salary is 55 percent. b. His average tax rate is 50.23 percent, and the marginal tax rate on his salary is 70.3 percent. c. His average tax rate is 53.63 percent, and the marginal tax rate on his salary is 70.3 percent. d. His average tax rate is 55.79 percent, and the marginal tax rate on his salary is 70.3 percent.