Table AOn Taxable Income ...The Tax Rate is ...Up to $8,37512%From $8,375 to $34,00014%From $34,000 to $82,40024%From $82,400 to $171,85027%From $171,850 to $373,65033%Over $373,65034%Refer to Table A. If Randy has $80,000 in income, his average tax rate is (assume a standard deduction of $12,500)15.79%20,2%.21.8%.25,0%.none of the above

As per given details:- If Randy has $ 80,000 income then tax will be like Taxable Income = 80000 -…

Answered: Refer to Table A. If Randy has $80,000…

Refer to Table A. If Randy has $80,000 in income, his average tax rate is (assume a standard deduction of $12,500) O 15.79% 20.2%. O 21.8%. 25.0%. none of the above

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Table A
On Taxable Income ...
The Tax Rate is ...
Up to $8,375
12%
From $8,375 to $34,000
14%
From $34,000 to $82,400
24%
From $82,400 to $171,850
27%
From $171,850 to $373,650
33%
Over $373,650
34%
Refer to Table A. If Randy has $80,000 in income, his average tax rate is (assume a standard deduction of $12,500)
15.79%
20,2%.
21.8%.
25,0%.
none of the above

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