Question: Determine the average amount oftaxable income per tax return, for each ofthe ranges oftaxable income provided, using the information in the below table. Taxable Income
Determine the average amount oftaxable income per tax return, for each ofthe ranges oftaxable income provided, using the information in the below table. Taxable Income and Total Tax Liability are in thousands. Note: Enter your answers in whole dollars and not in thousands. Round the final answers to the nearest dollar value. Ranges of Adjusted Gross Income $15,888 to under $38,888 to under $58,888 to under $188,888 to under Item Under $15,999 $39,999 $59,999 $199,999 $299,999 Number of returns 39,269,492 2?,389,999 27,138,837 34,436,449 29,998,838 Taxable income 5 6,938,229 $ 192,881,768 $ 694,264,898 8 1,?53,55?,416 s 2,394,359,1?1 Total tax liability 3; ???,332 $ 14,?89,911 3; 59,115,871 5 188,998,??? 3; 317,634,36? Average tax rate\" 11.2896 165% 8.29% 18.6196 13.78% *The average tax rate is total tax liability divided by taxable income. Under $15000 $15000 to under $30,000 $30,000 to under $50,000 $50,00010 under $100,000 $100,000 to under $200000 $200000 or more $288,888 or more 8,559,492 $ 3,864,99?,623 3; 996,21?,543 23.45%
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