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Multiple Choice Which of the following is correct about George, a single New York taxpayer, who had $40,000 of taxable income in 2015? A. George's

Multiple Choice Which of the following is correct about George, a single New York taxpayer, who had $40,000 of taxable income in 2015?

A. George's average tax rate is higher than his marginal tax rate.

B. We cannot determine the relationship between George's average and marginal tax rate with the information provided.

C. George's average tax rate is equal to his marginal tax rate.

D. George's average tax rate is lower than his marginal tax rate.

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