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

Question 42

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 2016, what is his average tax rate (rounded) ?


A) 17.95%
B) 15.00%
C) 18.49%
D) 25.00%
E) None of these

Correct Answer:

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