Al Barkley is single and earns $40,000 in taxable income.He uses the following tax rate schedule to calculate the taxes he owes.
What is Al's average tax rate?

Name: Al Barkley is single and earns $40,000 in taxable income.He uses the following tax rate schedule to calculate the taxes he owes. What is Al's average tax rate?
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Question

Al Barkley is single and earns $40,000 in taxable income.He uses the following tax rate schedule to calculate the taxes he owes.
 What is Al's average tax rate?

Quizplus · Accepted Answer

[9,275 F1F1F1S1F1F1F10 .10] + [(37,650 - 9,275) F1F1F1S1F1F1F10 .15] + [(40,000 - 37,650) F1F1F1S1F1F1F10 .25] = $5,771.25; $5,771.25/$40,000 = .1443 = 14.43%

Al Barkley Is Single and Earns $40,000 in Taxable Income