Frank and Fran Are Married and Have a 2017 Taxable

question 109

Multiple Choice

Frank and Fran are married and have a 2017 taxable income of $280,000.They also received $20,000 of tax-exempt income.Their average tax rate is:

• A)23.1%
• B)24.1%
• C)25.3%
• D)33.0%
• E)35.0%

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Definitions:

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization.

Quality

How well a good or service meets or exceeds customers’ expectations, or the degree to which a product conforms to established tolerance standards.

Consumer Demand

The desire for particular goods or services supported by the capacity to purchase them.

Price

The amount of money expected, required, or given in payment for something.