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What is the average tax rate for a firm with taxable income

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Reference no: EM132625967

The tax rates for a particular year are shown below:

Taxable Income       Tax Rate

$0 - 50,000                 15%

50,001 - 75,000            25%

75,001 - 100,000             34%

100,001 - 335,000             39%

Problem 1: What is the average tax rate for a firm with taxable income of $129,513?

Option 1: 26.07%

Option 2: 36.97%

Option 3: 39.00%

Option 4: 20.00%

Reference no: EM132625967

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