Question: 4. Computing and interpreting average tax rates In a hypothetical economy, Alex earns $38,000, Becky earns $76,000, and Clancy earns $114,000 in annual income. The

4. Computing and interpreting average tax rates In a hypothetical economy, Alex earns $38,000, Becky earns $76,000, and Clancy earns $114,000 in annual income. The following table shows the annual taxable income and tax liability for these three single individuals. For example, Alex, who earns $38,000, owes $5,320 in taxes. Use the tax liability figures provided to complete the following table by computing the average tax rate for Alex, Becky, and Clancy with an annual income of $38,000, $76,000, and $114,000, respectively

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