Using the following tax table to answer the question: Suppose Orange Co. has taxable income of 80,000, what is its average tax rate? Taxable income Tax Rate 0 -- 9,525 10% 9,525 -- 38,700 12% 38,700 -- 82,500 22% 82,500 -- 157,500 24% 157,500 -- 200,000 32% 200,000 -- 500,000 35% 500,000+ 37%