Briana,who is single,has taxable income for 2019 of $90,000,resulting in a total tax of $15,775.Her total economic income is $100,000.Briana's average tax rate and effective tax rate are,respectively,
A)17.53% and 15.78%.
B)17.53% and 24%.
C)15.78% and 24%.
D)15.78% and 17.53%.

Question

Quizplus · Accepted Answer

The average tax rate is calculated as total tax divided by taxable income ($15,775 / $90,000 = 17.53%). The effective tax rate is calculated as total tax divided by total economic income ($15,775 / $100,000 = 15.78%).

Briana,who Is Single,has Taxable Income for 2019 of $90,000,resulting in a Total