USE THE FOLLOWING TAX RATE SCHEDULE TO ANSWER THE NEXT SIX QUESTIONS.
If taxable income is:

-The average tax rate Mr. Smith pays equals to the nearest tenth of a percent):

Question

USE THE FOLLOWING TAX RATE SCHEDULE TO ANSWER THE NEXT SIX QUESTIONS.
If taxable income is:

-The average tax rate Mr. Smith pays equals to the nearest tenth of a percent):

Quizplus · Accepted Answer

Based on the tax rate schedule, Mr. Smith falls under the tax bracket of $40,126 - $85,525 and the corresponding tax rate is 22%. Therefore, his average tax rate would be within the range of 13.5% to 22%, which is only available in option B).