Question
Hi I need help with this question Congress would like to increase tax revenues by 12.5 percent. Assume that the average taxpayer in the United
Hi I need help with this question
Congress would like to increase tax revenues by 12.5 percent. Assume that the average taxpayer in the United States earns $63,000 and pays an average tax rate of 20 percent.
a. If the income effect is in effect for all taxpayers, what average tax rate will result in a 12.5 percent increase in tax revenues? (Round your answer to 2 decimal places.)
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Intermediate Accounting principles and analysis
Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso
2nd Edition
471737933, 978-0471737933
