Geronimo files his tax return as a head of household for year 2020. If his taxable income is $72,000, what is his average tax rate? (Use tax rate schedule.)(Round your final answer to two decimal places.)
A)14.15 percent
B)16.15 percent
C)11.45 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 liability using the tax rate schedule for head of household in 2020, then divide by the taxable income. The tax liability for $72,000 is $10,188.50, leading to an average tax rate of 14.15%.

Geronimo Files His Tax Return as a Head of Household