Calculate amir tax and his effective tax rate

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Amir is single and earns $132,000 annually. After adjusted gross income and standard deductions, his taxable income is $120,000. The tax brackets and tax rates are as follows:

$0-$9,525: 10%
$9,525-$38,700: 12%
$38,700-$82,500: 22%
$82,500-$157,500: 24%

Calculate Amir's tax and his effective tax rate.

Reference no: EM132983887

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