Question
1. Marc, a single taxpayer, earns $97,500 in taxable income and $2,350 in interest from an investment in city of Birmingham bonds. Using the U.S.
1. Marc, a single taxpayer, earns $97,500 in taxable income and $2,350 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2019, how much federal tax will he owe? (Round your final answer to the nearest whole dollar.) (Use tax rate schedule)
Multiple Choice
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$21,716
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$17,575
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$16,154
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$15,328
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None of the choices are correct
2. Marc, a single taxpayer, earns $124,500 in taxable income and $2,350 in interest from an investment in city of Birmingham bonds. Using the U.S. tax rate schedule for 2019, what is his average tax rate? (Round your final answer to the nearest whole percent.) (Use tax rate schedule)
Multiple Choice
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19.32 percent
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16.95 percent
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15.57 percent
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26.22 percent
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None of the choices are correct
3. Marc, a single taxpayer, earns $145,000 in taxable income and $4,500 in interest from an investment in city of Birmingham Bonds. Using the U.S. tax rate schedule for year 2019, what is his effective tax rate? (Round your final answer to the nearest whole percent.) (Use Tax rate schedule)
Multiple Choice
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25.75 percent
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19.38 percent
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17.19 percent
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15.92 percent
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None of the choices are correct
4.
Geronimo files his tax return as a head of household for year 2019. If his taxable income is $73,000, what is his average tax rate? (Use Tax rate schedules)
Multiple Choice
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14.38 percent
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6.41 percent
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19.18 percent
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22.00 percent
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None of the choices are correct
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