Homework Answers
Ans: The correct option for the answer is option
Taxable income= $145,500
Status= Single
Rate of income tax= $14,382.50+ 24%(145,500-84,200)
= $14,382.50+ 24% of 61,300.
= $14,382.50 + 14,712
=$ 29,094.50
Average TAx rate= $29,094.50/145,500
= 19.996
= 20 Percent
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