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If Provincial Tax Rates Are 16% on the First $40,100;

Question 52

Multiple Choice

If provincial tax rates are 16% on the first $40,100; 20% on the next $40,100; and 24% on any income after that. If a resident had income of $95,000, then determine the average provincial tax rate.


A) 18.50%
B) 18.93%
C) 20.50%
D) 20.93%
E) 21.50%

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