Marc, a Single Taxpayer, Earns $60,000 in Taxable Income and $5,000

Multiple Choice

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2018, what is his effective tax rate (rounded) ? (Use tax rate schedule)

A) 20.31%
B) 14.06%
C) 15.23%
D) 22.00%
E) None of the choices are correct