Problem 1-58 (LO 1-3, LO 1-5) (Algo) Congress would like to increase tax revenues by 7 percent. Assume that the average taxpayer in the United States earns $42,000 and pays an average tax rate of 10 percent. a. If the income effect effect for all taxpayers, what average tax rate will result in a 7 percent increase in tax revenues? (Round your answer to 2 decimal places.) Answer is complete but not entirely correct. Average tax rate 27.38 b. This is an example of what type of forecasting? Static Dynamic