If Susie earns $750,000 in taxable income and files as head of household for year 2019, what is Susie's average tax rate (rounded)? (Use tax rate schedule.)
A)32.14 percent
B)33.85 percent
C)35.00 percent
D)37.00 percent
E)None of the choices are correct

Question

Quizplus · Accepted Answer

Susie's taxable income is $750,000. The tax rate schedule for head of household filers for 2019 is as follows:Taxable Income	Tax Rate$0-$13,850	10%$13,851-$52,850	12%$52,851-$207,350	22%$207,351-$518,400	24%$518,401-$1,036,800	32%$1,036,801+	35%Susie's taxable income falls into the $518,401-$1,036,800 tax bracket. The tax rate for this bracket is 32%. Susie's average tax rate is calculated by dividing her total tax liability by her taxable income. Her total tax liability is $243,250. Her average tax rate is therefore $243,250/$750,000 = 32.14%.

If Susie Earns $750,000 in Taxable Income and Files as Head