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What is the amount of taxes and average tax rate

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Problem 1: You earn $40,000 in active income and $1,000 in long term capital gain. What is the amount of your taxes and your average tax rate?

8700 (0.1) + (35350 - 8700)(0.15) + (40000 - 35351)(0.25) +1000(0.15) = 6179.6
Average rate = 6179.6/41000 = 0.15072

Reference no: EM133004441

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