Millionaire’s Tax Rate The effective tax rate for a head of household earning the equivale...

Millionaire’s Tax Rate The effective tax rate for a head of household earning the equivalent of $1 million in non-investment income in 2010 dollars can be modeled by the function

where x is the number of years after 1900.

a. Graph the function for 15 ≤ x ≤ 110.

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b. According to the model, what was the tax rate for a millionaire head of household in 1990?

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c. In 2010, with President Bush’s tax cuts in effect, the tax rate was 32.4%. Does the model agree with this rate?