Question: Given the information in the table, what is the average tax rate of a corporation with a $70,000 taxable income? Taxable Income, Dollars Tax Rate

Given the information in the table, what is the average tax rate of a corporation with a $70,000 taxable income?

Taxable Income, Dollars Tax Rate (%)

0-50,000 15%

50,001-75,000 25%

75,001-100,000 34%

a. 22.75%

b.17.86%

c. 18.33%

d. 25%

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