Average 5 Attempts 6. Income inequality and the poverty rate The following table summarizes the income distribution for the town of Perkopia, which has a population of 10,000 people. Every individual within an income group earns the same income, and the total annual income in the economy is $500,000,000. Suppose that in 2000, the poverty income threshold, or poverty line, is set at an annual income of $27,400 for an individual. Share of Total Income in Perkopia (Percent) Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile 1994 11.0 44.0 5.0 16.0 24.0 22.5 15.2 48.6 2000 3.8 9.9 2006 9.2 3.5 14.8 22.0 50.5 2012 14.0 53.1 8.2 21.5 The data in the table suggest that there was income inequality from 1994 to 2012