Exhibit 9-1 A flat tax plan allows individuals to deduct a standard allowance of $25,000 from their wages.Assume that the flat tax rate is 12%.
Refer to Exhibit 9-1.If you were earning $50,000 a year,your average tax rate would be:
A) 12 percent.
B) 15 percent.
C) 6 percent.
D) 9 percent.
Correct Answer:
Verified
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