Marc, a single taxpayer, earns $61,200 in taxable income and $5,120 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2023, what is his average tax rate? (Use tax rate schedule.) Note: Round your final answer to two decimal places. Multiple Choice 14.33 percent 11.65 percent 11.42 percent 22.00 percent Jhay
Marc, a single taxpayer, earns $61,200 in taxable income and $5,120 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2023, what is his average tax rate? (Use tax rate schedule.) Note: Round your final answer to two decimal places. Multiple Choice 14.33 percent 11.65 percent 11.42 percent 22.00 percent Jhay
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Marc, a single taxpayer, earns $61,200 in taxable income and $5,120 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate
schedule for 2023, what is his average tax rate? (Use tax rate schedule.)
Note: Round your final answer to two decimal places.
Multiple Choice
14.33 percent
11.65 percent
11.42 percent
22.00 percent
Jhy
x
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