Problem $1-35($LO $1-1)$

Required:

Determine the average amount of taxable income per tax return, for each of the ranges of taxable 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.

$*$The average tax rate is total tax liability divided by taxable income.