Question: 9. Computing and interpreting average tax rates In a hypothetical economy, Yakov earns $16,000, Ana earns $32,000, and Charles earns $48,000 in annual income. The

9. Computing and interpreting average tax rates In a hypothetical economy, Yakov earns $16,000, Ana earns $32,000, and Charles earns $48,000 in annual income. The following table shows the annual taxable income and tax liability for these three single individuals. For example, Yakov, who earns $16,000, owes $4,320 in taxes. Use the tax liability figures provided to complete the following table by computing the average tax rate for Yakov, Ana, and Charles with an annual income of $16,000, $32,000, and $48,000, respectively.(Hint: Use the following formula to calculate the tax rate: Tax Rate=Tax LiabilityTaxable Income. Multiply the tax rate you derive by 100 to get this into percentage form.) Taxable Income Taxable Income Tax Liability Average Tax Rate (Dollars) (Dollars) (Percent) Yakov 16,000 4,320 Ana 32,000 7,040 Charles 48,000 5,760 The income tax system for this country is proportional ... regressive, proportional, progressive..

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