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 effective tax rate (rounded) ?
A) 18.49%
B) 16.57%
C) 12.41%
D) 25.00%
E) None of these
Correct Answer:
Verified
Correct Answer:
Verified
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