Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If your taxable income is $106000, your gross income is $135000, and you paid $38000 in taxes, what is your average tax rate? A. 36%

If your taxable income is $106000, your gross income is $135000, and you paid $38000 in taxes, what is your average tax rate?

A. 36%

B.40%

C. 48%

D. 33%

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Personal Finance

Authors: E Thomas Garman, Raymond E Forgue

10th Edition

143903902X, 9781439039021

More Books

Students also viewed these Finance questions

Question

Did the researcher use negative case analysis?

Answered: 1 week ago

Question

Do not go, wait until I come

Answered: 1 week ago

Question

Pay him, do not wait until I sign

Answered: 1 week ago