Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $181,050. Assume the following tax table is applicable Single Individuals If Your Taxable Income Is Up to $9,875 $9,875-140,125 $40,125-$85,525 $85,525-5163,300 $163,300-$207,350 $207,350-4518,400 Over $518,400 Plus This Percentage You Pay This Amount on on the Excess ever the the Base of the Bracket Base What is her average tax rate? Ca. 20.49% Cb. 20.74% C. 19.73% Cd. 32.00% C. 21.51% $0.00 987.50 4,617.50 14,605.50 33,271.50 47,367.50 156,235.00 10.0% 12.0 22.0 240 32.0 35.0 37.0 Average Tax Rate at Top of Bracket 10.0% 11.5 17.1 20.4 22.8 30.1 37.0
Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $181,050. Assume the following tax table is applicable Single Individuals If Your Taxable Income Is Up to $9,875 $9,875-140,125 $40,125-$85,525 $85,525-5163,300 $163,300-$207,350 $207,350-4518,400 Over $518,400 Plus This Percentage You Pay This Amount on on the Excess ever the the Base of the Bracket Base What is her average tax rate? Ca. 20.49% Cb. 20.74% C. 19.73% Cd. 32.00% C. 21.51% $0.00 987.50 4,617.50 14,605.50 33,271.50 47,367.50 156,235.00 10.0% 12.0 22.0 240 32.0 35.0 37.0 Average Tax Rate at Top of Bracket 10.0% 11.5 17.1 20.4 22.8 30.1 37.0
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $181,050. Assume the following tax table is applicable.
Single Individuals
If Your Taxable
Income Is
Up to $9,875
$9,875-140,125
$40,125-$85,525
$85,525-5163,300
$163,300-$207,350
$207,350-$518,400
Over $518,400
Plus This Percentage
You Pay This Amount on on the Excess over the
the Base of the Bracket
Base
10.0%
12.0
22.0
24.0
32.0
35.0
37.0
What is her average tax rate?
Ca. 20.49%
Ob. 20.74%
C. 19.73%
Od. 32.00%
O. 21.51%
$0.00
987.50
4.617.50
14,605.50
33,271.50
47,367.50
156,235.00
Average Tax
Rate at Top of
Bracket
10,0%
11.5
17.1
20.4
22.8
30.1
37.0
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