Given the Tax Rates as Shown, What Is the Average

Multiple Choice

Given the tax rates as shown, what is the average tax rate for a firm with taxable income of $126,500? $$\begin{array} { | r | l | } \hline \text { Taxable Income } & \text { Tax Rate } \\\hline \$ 0 - 50,000 & 15 \% \\\hline 50,001 - 75,000 & 25 \% \\\hline 75,001 - 100,000 & 34 \% \\\hline 100,001 - 335,000 & 39 \% \\\hline\end{array}$$

A) 21.38%
B) 23.88%
C) 25.76%
D) 34.64%
E) 39.00%