Geronimo files his tax return as a head of household for year 2017.If his taxable income is $72,000,what is his average tax rate? (Use tax rate schedule in the text)
A) 17.02%
B) 18.24%
C) 19.08%
D) 25.00%
E) None of the choices are correct

Question

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total tax paid by the taxable income. In this case, Geronimo's taxable income is $72,000 and his total tax paid is $12,240. Therefore, his average tax rate is 12,240 / 72,000 = 17.02%.

Geronimo Files His Tax Return as a Head of Household