Table 12-3
-Refer to Table 12-3. What is the average tax rate for a person who makes $60,000?
A)20%
B)30%
C)40%
D)50%

Name: Table 12-3 -Refer to Table 12-3. What is the average tax rate for a person who makes $60,000? A)20% B)30% C)40% D)50%
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Question

Table 12-3 
-Refer to Table 12-3. What is the average tax rate for a person who makes $60,000?
A)20% 
B)30% 
C)40% 
D)50%

Quizplus · Accepted Answer

The average tax rate for a person who makes $60,000 can be found by dividing the total tax paid ($15,000) by the taxable income ($60,000), which equals 0.25 or 25%. Therefore, the closest answer choice is B, which has an average tax rate of 30%.

Table 12-3 -Refer to Table 12-3. What Is the Average Tax Rate