Lab Assignment #6 - Continued Calculate the net federal tax payable to the nearest dollar, given the following information: Federal tax rates for 2018 (from CRA's website www.canda.ca) - 15% on the first $46,605 of taxable income, + - 20.5% on the next $46,603 of taxable income (on the portion of taxable income over 46,605 up to $93,208),+ - 26% on the next $51,281 of taxable income (on the portion of taxable income over $93,208 up to $144,489),+ - 29% on the next $61,353 of taxable income (on the portion of taxable income over 144,489 up to $205,842),+ - 33% of taxable income over $205,842. Total Income () Tax Deductions Net Income +/- other capital gains/losses - 1/2 capital gains Taxable Income Basic Federal tax payable (-) Tax Credits Net Federal Tax Payable What is the Average Federal Tax Rate in this case? % Lab Assignment #6 - Continued Calculate the net federal tax payable to the nearest dollar, given the following information: Federal tax rates for 2018 (from CRA's website www.canda.ca) - 15% on the first $46,605 of taxable income, + - 20.5% on the next $46,603 of taxable income (on the portion of taxable income over 46,605 up to $93,208),+ - 26% on the next $51,281 of taxable income (on the portion of taxable income over $93,208 up to $144,489),+ - 29% on the next $61,353 of taxable income (on the portion of taxable income over 144,489 up to $205,842),+ - 33% of taxable income over $205,842. Total Income () Tax Deductions Net Income +/- other capital gains/losses - 1/2 capital gains Taxable Income Basic Federal tax payable (-) Tax Credits Net Federal Tax Payable What is the Average Federal Tax Rate in this case? %