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
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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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
$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
12 percent
22 percent
24 percent
32 percent
35 percent
37 percent
Transcribed Image Text: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 $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 12 percent 22 percent 24 percent 32 percent 35 percent 37 percent
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