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Rajesh is filing single and he has an adjusted gross income (AGI) of $81,000 for the 2018 tax year. He qualifies for the standard deduction
Rajesh is filing single and he has an adjusted gross income (AGI) of $81,000 for the 2018 tax year. He qualifies for the standard deduction of S12,000. Use the following 2018 Federal tax rate schedule to calculate his 2018 Federal income tax. If your filing status is single; and taxable income is more but not than: over: your tax is: SO $9,525 10% OF the taxable income 59,525 $38,700 $38,700 582.500 $82.500 5157.500 $952.50 plus 12% of the excess over 59,525 54,453.50 plus 22% of the excess over 538.700 $14,089.50 plus 24% of the excess over 582,500 $32,089.50 plus 32% of the excess over $157,500 S45,689.50 plus 35% of the excess over $200,000 $157,500 $200,000 $200,000 $500,000 $500,000 $150,689.50 plus 37% OF THE AMOUNT OVER $500,000 Rajesh's 2018 tax is: 5 (Round to the nearest doltar.) What is Rajesh's effective tax rate? [Tax paid divided by taxable income] (Write as a percent, rounded to one decimal place
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