Accounting answer me An individual has a taxable income of $125,000 and paid totaltaxes of $32,500. Calculate their average tax rate.

Step 1: Definition of Average Tax RateThe average tax rate is the percentage of total taxable income…

Answered: An individual has a taxable income of…

Income Tax Fundamentals 2020

38th Edition

ISBN:9780357391129

Author:WHITTENBURG

Publisher:WHITTENBURG

Chapter12: Tax Administration And Tax Planning

Section: Chapter Questions

Problem 21MCQ

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An individual has a taxable income of $125,000 and paid total taxes of $32,500. Calculate their average tax rate.