Use the Following Tax Rate Schedule to Answer the Next Question. If taxable income of the

But not amount

Over over Tax is: over

$0 $2,300 0 $2,300

2,300 3,400 11% 2,300

3,400 4,400 $121+12% 3,400

4,400 6,500 241+14% 4,400

6,500 8,500 535+15% 6,500

8,500 10,800 835+16% 8,500

10,800 12,900 1,203+18% 10,800

12,900 15,000 1,581+20% 12,900

15,000 18,200 2,001+23% 15,000

18,200 23,500 2,737+26% 18,200

23,500 28,800 4,115+30% 23,500

28,800 34,100 X + 34% 28,800

34,100 41,500 7,507+38% 34,100

41,500 55,300 10,319+42% 41,500

55,300 81,800 16,115+48% 55,300

81,800 28,835+50% 81,800

Mr. Smith has adjusted gross income of $26,000 and taxable income of $15,200. The average effective tax rate Mr. Smith pays equals (to the nearest tenth of a percent):

7.9%

8.2%

13.5%

23.0%