Frank and Fran are married and have a 2018 taxable income of $280,000. They also received $20,000 of tax-exempt income. Their average tax rate is:

Question

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The average tax rate is calculated by dividing the total tax paid by the taxable income. Assuming the tax paid is $55,720 (19.9% of $280,000), the average tax rate would be 19.9%. The tax-exempt income is not included in the taxable income calculation.

Frank and Fran Are Married and Have a 2018 Taxable