Geronimo files his tax return as a head of household for year 2020. If his taxable income is $73,600, what is his average tax rate? (Use tax rate schedule.)(Round your final answer to two decimal places.)
A)14.32 percent
B)16.32 percent
C)11.62 percent
D)22.00 percent
E)None of the choices are correct

Question

Quizplus · Accepted Answer

To find the average tax rate, calculate the total tax owed using the tax rate schedule for head of household and divide it by the taxable income. For $73,600, the tax owed is $10,540. The average tax rate is ($10,540 / $73,600) * 100 = 14.32%.

Geronimo Files His Tax Return as a Head of Household