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Daniel has provided the following information to you so you can help him find out how to compute certain items on his US federal income
Daniel has provided the following information to you so you can help him find out how to compute certain items on his US federal income tax return. His tax filing status is single and a part of the hypothetical tax table for single taxpayers is also shown below. Item Amount Gross salary $67,500 Dividend income $400 Interest income $95 $780 Adjustments to income Itemized deductions $14,250 Taxes withheld $7,643 Tax Rate Taxable Income Range 10% $0-$10,000 12% $10,001-$40,000 22% $40,001-$$85.000 4. What is Daniel's average tax rate? (Hint: Average tax rate = tax liability found in previous problem/gross income) (5 pts) a. 10.7% b. 11.0% c. 11.4% d. 11.9% Daniel has provided the following information to you so you can help him find out how to compute certain items on his US federal income tax return. His tax filing status is single and a part of the hypothetical tax table for single taxpayers is also shown below. Item Amount Gross salary $67,500 Dividend income $400 Interest income $95 $780 Adjustments to income Itemized deductions $14,250 Taxes withheld $7,643 Tax Rate Taxable Income Range 10% $0-$10,000 12% $10,001-$40,000 22% $40,001-$$85.000 4. What is Daniel's average tax rate? (Hint: Average tax rate = tax liability found in previous problem/gross income) (5 pts) a. 10.7% b. 11.0% c. 11.4% d. 11.9%
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