What is your effective tax rate

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Reference no: EM131070586

The retail sales tax rate in Regressiveland is 6%. Use this information for the next four questions.

a) If you earn $35,000 per year and spend your entire income each year, how much will you pay in sales taxes? Round your answer to the nearest whole dollar.

b) Using your answer from the previous question, what is your effective tax rate? Round your answer to two decimal places.

Reference no: EM131070586

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