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

question 48

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 2018, what is his effective tax rate (rounded) ? (Use tax rate schedule)

• A) 20.31%
• B) 14.06%
• C) 15.23%
• D) 22.00%
• E) None of the choices are correct

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