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

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Reference no: EM132630940

Question - 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%

What is the average tax rate for a firm with taxable income of $122,513?

27.82%

36.23%

20.00%

25.33%

39.00%

Reference no: EM132630940

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