Table 12-4
-Refer to Table 12-4.What is the approximate average tax rate for a person who makes $60,000
A)17%
B)27%
C)37%
D)47%

Question

Table 12-4 
-Refer to Table 12-4.What is the approximate average tax rate for a person who makes $60,000
A)17% 
B)27% 
C)37% 
D)47%

Quizplus · Accepted Answer

To find the approximate average tax rate for a person who makes $60,000, we need to look for the row that contains the income range that includes $60,000, which is the row between $50,001 and $75,000. In that row, the marginal tax rate is 22% and the average tax rate is 17.6%. Since the question asks for the approximate average tax rate, we can round this up to 18% or down to 17%. The closest answer choice is B, which is 27%, so it is not the correct choice. The correct choice is B because it is the closest to the approximate average tax rate of 18%.

Table 12-4 -Refer to Table 12-4.What Is the Approximate Average Tax Rate