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

question 59

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 2017, what is his effective tax rate? (Use tax rate schedule.)

• A) 17.90%
• B) 16.52%
• C) 25.00%
• D) 14.23%
• E) None of the choices are correct

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Definitions:

Fundamental Attribution Error

The tendency to over-emphasize personal characteristics and ignore situational factors when judging others' behavior.

Motivation And Ability

Fundamental drivers of human behavior in organizational settings, where motivation refers to the willingness to perform actions, and ability refers to the capability of performing those actions.

Self-Fulfilling Prophecy

A belief or expectation that directly or indirectly causes itself to become true due to positive feedback between belief and behavior.

Social Identity Theory

A psychological theory that posits individuals derive part of their self-concept from their perceived membership in a relevant social group, influencing their behavior and attitudes.