Assume a Single Taxpayer Is Taxed at 10% on the First

question 106

Multiple Choice

Assume a single taxpayer is taxed at 10% on the first $9,075 of taxable income, 15% on the next $27,825 of income, and at 25% for the following $52,450 of income. What is the average tax rate for that individual if her taxable income is $41,350?

• A) 14.98%
• B) 16.67%
• C) 16.13%
• D)19.98%

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Definitions:

Luster

The reflection of light from the surface of a mineral, especially its quality and intensity; the appearance of a mineral in reflected light.

Color

A property of light as seen by people, typically defined by its wavelength or frequency.

Crystals

Solid materials whose constituents, such as atoms, molecules, or ions, are arranged in a highly ordered microscopic structure.

Minerals

Naturally occurring inorganic substances with a definite chemical composition and crystalline structure, forming the building blocks of rocks.