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Problem 1-39 (LO 1-1) Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the
Problem 1-39 (LO 1-1) Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the below table. Taxable Income and Total Tax Liability are in thousands. (Enter your answers in dollars rounded to the nearest dollar value.) Ranges of Adjusted Gross Income Under $15,000 to $30,eee to $50,e8e to $100,e80 $15, under $30,e0 under $5e,e80 under $18e,e00 under $2ee,e0e 26,719,852 $200,880 or Item more Number of returns 34,703,083 29,734,201 33, 267,278 18,932, 828 6,959, 511 $1,930,713,847 $2,994,244, 158 210,103, 387 322,558, 340 835,714,234 27,91% Taxable income Total tax liability Average tax rate $21,397,029 $212,001,025 $564,350,669 $1,600, 848,472 57,988, 578 10.28% $1,826,539 $ 18,583,289 8.54% 13.12% 8.77% 16. 71% Under $15,000 $15,000 to under $30,000 es $30,000 to under $50,000 $50,000 to under $100,000 $100,000 to under $200,000 $200,000 or more
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