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Geronimo files his tax return as a head of household for year 2022. If his taxable income is $73,800, what is his average tax rate?
Geronimo files his tax return as a head of household for year 2022. If his taxable income is $73,800, what is his average tax rate? (Use tax rate schedule.)
Note: Round your final answer to two decimal places.
a)13.46 %
b) 15.69%
c)11.66 %
d) 22.00 %
e) None of the choices are correct
\begin{tabular}{|c|c|l|} \hline$364,200 & $462,500 & $74,208 plus 32% bf the excess over $364,200 \\ \hline$462,500 & $693,750 & $105,664 plus 35% of the excess over $462,500 \\ \hline$693,750 & - & $186,601.5 plus 37% of the excess over $693,750 \\ \hline \end{tabular} Schedule Z-Head of Household \begin{tabular}{|c|c|l|} \hline If taxable income is over: & But not over: & The tax is: \\ \hline$ & $15,700 & 10% of taxable income \\ \hline$15,700 & $59,850 & $1,570 plus 12% of the excess over $15,700 \\ \hline$59,850 & $95,350 & $6,868 plus 22% of the excess over $59,850 \\ \hline$95,350 & $182,100 & $14,678 plus 24% of the excess over $95,350 \\ \hline$182,100 & $231,250 & $35,498 plus 32% of the excess over $182,100 \\ \hline$231,250 & $578,100 & $51,226 plus 35% of the excess over $231,250 \\ \hline$578,100 & - & $172,623.5 plus 37% of the excess over $578,100 \\ \hline \end{tabular} Schedule Y-2-Married Filing Separately The tax isStep by Step Solution
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