4. Computing and interpreting average tax rates In a hypothetical economy, Clancy earns $37,000, Eileen earns 74,000, and Hubert earns $111,000 in annual income. The following table shows the annual taxable income and tax liability for these three single individuals. For example, Clancy, who earns $37,000, owes $9,250 in taxes. Use the tax liability figures provided to complete the following table by computing the average tax rate for Clancy, Eileen, and Hubert with an annual income of $37,000, $74,000, and $111,000, respectively. Taxable Income Tax Liability Average Tax Rate Taxable Income (Dollars) (Percent) Clancy 37,000 progressive ] Eileen 74,000 regressive ] Hubert 111,000 ] proportional The income tax system for this country is w . 4. Computing and interpreting average tax rates In a hypothetical economy, Clancy earns $37,000, Eilean earns 74,000, and Hubeart arns $111,000 in annual income. The following table shows the annual taxable income and tax liability for these three single individuals. For example, Clancy, who earns $27,000, owes 9,250 in taxes. Use the tax liability figures provided to complete the following table by computing the average tax rate for Clancy, Eileen, and Hubert with an annual income of 537,000, $74,000, and $111,000, respectively. Taxable Income Tax Liability Average Tax Rate Taxable Income (Dollars) (Dollars) (Percent) Clancy 37,000 5,250 [ ] Eileen 74,000 11,100 [ ] Hubert 111,000 11,100 [ The income tax system for this country is