USE THE TAX TABLE PROVIDED BELOW FOR THE FOLLOWING PROBLEM(S)

-Refer to Exhibit 2.1. What is the average tax for a single individual with taxable income of $85,000?
A) 13.57%
B) 15.68%
C) 21.68%
D) 25.74%
E) 29.55%

Question

USE THE TAX TABLE PROVIDED BELOW FOR THE FOLLOWING PROBLEM(S)
 
-Refer to Exhibit 2.1. What is the average tax for a single individual with taxable income of $85,000?
A) 13.57% 
B) 15.68% 
C) 21.68% 
D) 25.74% 
E) 29.55%

Quizplus · Accepted Answer

For a single individual with a taxable income of $85,000, the tax calculation based on the given tax brackets would result in an average tax rate of 21.68%. This is determined by calculating the total tax owed divided by the taxable income.