Table 12-1

-Refer to Table 12-1.If Betina has $170,000 in taxable income,her average tax rate is
A) 23.8%.
B) 24.3%.
C) 25.9%.
D) 28.0%.

Question

Table 12-1
 
-Refer to Table 12-1.If Betina has $170,000 in taxable income,her average tax rate is
A) 23.8%. 
B) 24.3%. 
C) 25.9%. 
D) 28.0%.

Quizplus · Accepted Answer

To find the average tax rate, we need to locate the $170,000 income level on the table and find the corresponding tax amount. We can see that Betina falls into the $160,000-$200,000 income bracket and that her tax liability is $41,200. Therefore, her average tax rate is ($41,200/$170,000)x100%, which is approximately 24.3%. Therefore, the correct answer is B.

Table 12-1 -Refer to Table 12-1.If Betina Has $170,000 in Taxable Income,her