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Assume a Single Taxpayer Is Taxed at 10% on the First

Question 2

Multiple Choice

Assume a single taxpayer is taxed at 10% on the first $9,275 of taxable income,15% on the next $28,375 of income,and at 25% for the following $53,500 of income.What is the average tax rate for that individual if her taxable income is $42,000?


A) 14.93%
B) 16.67%
C) 16.13%
D) 25%

Correct Answer:

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