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Refer to the Personal Income Tax Schedule Given in the Table

Question 102

Multiple Choice

Refer to the personal income tax schedule given in the table. If your taxable income is $8,000, your average tax rate is A) 25 percent; your marginal rate on the last $2,000 is 25 percent. B) 25 percent; your marginal rate on the last $2,000 is 40 percent. C) 25 percent; your marginal rate on the last $2,000 cannot be determined from the information given. D) 20 percent; your marginal rate on the last $2,000 is 30 percent. Refer to the personal income tax schedule given in the table. If your taxable income is $8,000, your average tax rate is


A) 25 percent; your marginal rate on the last $2,000 is 25 percent.
B) 25 percent; your marginal rate on the last $2,000 is 40 percent.
C) 25 percent; your marginal rate on the last $2,000 cannot be determined from the information given.
D) 20 percent; your marginal rate on the last $2,000 is 30 percent.

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