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The federal tax schedule for a single person is listed below. If Dr. Nikolova earns $134,000 worth of taxable income what is her average federal
The federal tax schedule for a single person is listed below. If Dr. Nikolova earns $134,000 worth of taxable income what is her average federal tax rate?
Tax rate | Taxable income bracket |
| |
10% | $0 to $9,950 | ||
12% | $9,951 to $40,525 | ||
22% | $40,526 to $86,375 | ||
24% | $86,376 to $164,925 | ||
32% | $164,926 to $209,425 | ||
35% | $209,426 to $523,600 | ||
37% | $523,601 or more | ||
The answer is 19.54%, but I was wondering how you get that answer.
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