If Susie earns $762,000 in taxable income and files as head of household for year 2020, what is Susie's average tax rate? (Use tax rate schedule.)(Round your final answer to two decimal places.)
A)32.14 percent
B)32.34 percent
C)35.08 percent
D)37.00 percent
E)None of the choices are correct

Question

Quizplus · Accepted Answer

Susie's taxable income is $762,000. The tax rate schedule for head of household for year 2020 is:Taxable Income	Tax Rate$0-$14,200	10%$14,201-$53,700	12%$53,701-$85,500	22%$85,501-$163,300	24%$163,301-$207,350	32%$207,351-$518,400	35%$518,401-$1,036,800	37%Susie's taxable income falls into the $518,401-$1,036,800 bracket. The tax rate for this bracket is 37%. Susie's average tax rate is 37%.

If Susie Earns $762,000 in Taxable Income and Files as Head