A farm manager in Central Texas has a real taxable income of 64,700 per year. The current income tax schedule is shown in the table below. The inflation rate is 1.2%. Tax Schedule $ $ $ $ $ $ $ $ Bracket (0) $ 20,000.00 $ 40,250.00 $ 85,200.00 $ 161,600.00 $ 205,500.00 $ 509,600.00 $ 618,400.00 20,000.00 40,250.00 85,200.00 161,600.00 205,500.00 509,600.00 618,400.00 Rate (1) 10.00% 12.00% 22.00% 24.00% 32.00% 35.00% 37.00% 39.60% If the tax brackets are indexed for inflation, which of the following statements are true? The average tax rate decreases each year The tax brackets do not change year to year Nominal after-tax income increases each year O All of the above Both a &c