Marc, a Single Taxpayer, Earns $60,000 in Taxable Income and $5,000

question 111

Multiple Choice

Marc, a single taxpayer, earns $60,000 in taxable income and $5,000 in interest from an investment in city of Birmingham bonds.Using the U.S.tax rate schedule for year 2019, what is his effective tax rate (rounded) ? (Round your final answer to the nearest whole percent.) (Use tax rate schedule.)

• A)20.31 percent
• B)13.94 percent
• C)11.75 percent
• D)10.48 percent
• E)None of the choices are correct

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Definitions:

Proportion

The ratio or fraction that represents the part of the whole or a percentage of the total.

Sample

A subset of individuals, items, or data taken from a larger population for the purpose of analysis.

High School Education

A secondary level of formal schooling that follows primary education, typically including grades 9 or 10 through 12, and culminating in a diploma.

Proportion

A statistical measure that reflects the fraction or percentage of the total number of cases that fall within a particular category.