Table 12-2
United States Income Tax Rates for a Single Individual, 2002 and 2003.

-Refer to Table 12-2.Surbhi is a single person whose taxable income is $150,000 a year.What is her average tax rate in 2002?

Question

Table 12-2
United States Income Tax Rates for a Single Individual, 2002 and 2003.
 
-Refer to Table 12-2.Surbhi is a single person whose taxable income is $150,000 a year.What is her average tax rate in 2002?

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total tax paid by the taxable income. Based on the 2002 tax brackets for a single filer, Surbhi's income falls into the highest bracket, and her average tax rate is approximately 27.8%.

Table 12-2 United States Income Tax Rates for a Single Individual, 2002