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In the current year, Mary, who is single, has gross income of $200,000 (no exclusions), adjusted gross income of $150,000, and taxable income of $100,000.
In the current year, Mary, who is single, has gross income of $200,000 (no exclusions), adjusted gross income of $150,000, and taxable income of $100,000. She is in the 24% tax bracket and her total tax liability is $18,000. What is Mary s average tax rate for the year? 24% 18% 12% 9%
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