Based on the table below, what would the average tax rate be for a person earning $47,000 per year?_U.S. Marginal Tax Rates for Single Taxpayers (2022)$0 to $10,27510 percent$10,275 to $41,775$41,775 to $89,075$89,075 to $170,050$170,050 to $215,950$215,950 to $539,900Over $539,90012 percent22 percent24 percent32 percent35 percent37 percent

Average tax rates show the overall share of income paid in taxes. It is the percentage of the total…

Based on the table below, what would the average tax rate be for a person earning $47,000 per year? U.S. Marginal Tax Rates for Single Taxpayers (2022) $0 to $10,275 10 percent 12 percent 22 percent 24 percent 32 percent $10,275 to $41,775 $41,775 to $89,075 $89,075 to $170,050 $170,050 to $215,950 $215,950 to $539,900 Over $539,900 35 percent 37 percent

Based on the table below, what would the average tax rate be for a person earning $47,000 per year? U.S. Marginal Tax Rates for Single Taxpayers (2022) $0 to $10,275 10 percent 12 percent 22 percent 24 percent 32 percent $10,275 to $41,775 $41,775 to $89,075 $89,075 to $170,050 $170,050 to $215,950 $215,950 to $539,900 Over $539,900 35 percent 37 percent

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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