Table 12-11
-Refer to Table 12-11. If Bud has taxable income of $78,000, his average tax rate is
A)18.7%.
B)19.3%.
C)20.1%.
D)34.0%.

Question

Table 12-11 
-Refer to Table 12-11. If Bud has taxable income of $78,000, his average tax rate is
A)18.7%. 
B)19.3%. 
C)20.1%. 
D)34.0%.

Quizplus · Accepted Answer

To find Bud's average tax rate, we need to use the table to determine his total tax liability and divide it by his taxable income. From the table, we can see that his total tax liability is $15,045. Therefore, his average tax rate is $15,045 / $78,000 = 0.193, or 19.3%. So the answer is B.

Table 12-11 -Refer to Table 12-11. If Bud Has Taxable Income of Taxable