Calculate the average tax rate on an income

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Reference no: EM13974871

Use the marginal income tax rates shown here to calculate the average tax rate on an income of $100,000.

Taxable Income Tax rate $0–$8,700 10% $8,700–$35,350 15% $35,350–$85,650 25% $85,650–$178,650 28% $178,650–$388,350 33% Over $388,350 35% Average tax rate on $100,000 of income is ____________.

21.46%

24.27%

28.00%

Reference no: EM13974871

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