Under a progressive tax system,Elaine earned a salary for the year that placed her in a tier that paid a marginal tax rate of 40 percent for all income earned over $150,000 but less than $415,000.Which of the following statements is true?
A) Elaine's average tax rate was less than 40 percent.
B) Elaine earned less than $150,000.
C) Elaine's average tax rate was greater than 40 percent.
D) Elaine earned a $272,000 salary.
E) Elaine earned greater than $415,000.
Correct Answer:
Verified
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