Marc,a single taxpayer,earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham Bonds.Using the U.S.tax rate schedule for year 2017,what is his average tax rate (rounded) ? (Use tax rate schedule in the text)
A) 17.90%
B) 15.00%
C) 15.42%
D) 25.00%
E) None of the choices are correct
Correct Answer:
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