A person with taxable income of $40,000 and a total tax bill of $4,200 would have an average tax rate of 15%.

a. True

b. False

Question

Business

Jameson Becker

24 November, 06:30

A person with taxable income of $40,000 and a total tax bill of $4,200 would have an average tax rate of 15%.

a. True

b. False

+2

Answers (1)

Know the Answer?

Selina Clayton · Answer 1

The answer to this question would be false as $4200 is only 10.5% of $40000. The reason it is 10.5% and not 15% is because if you take $40000 and divide it by 15% you would get $6000. In order to get a $4200 tax bill you would have to take $40000 and divide by 10.5%.

A person with taxable income of $40,000 and a total tax bill of $4,200 would have an average tax rate of 15%.a. Trueb. False

A person with taxable income of $40,000 and a total tax bill of $4,200 would have an average tax rate of 15%.

a. True

b. False