Question: Suppose the tax table for single individuals is given below: Taxable income Tax on base of bracket Rate on amount above base $0 - 10,000
Suppose the tax table for single individuals is given below:
| Taxable income | Tax on base of bracket | Rate on amount above base |
| $0 - 10,000 | $0 | 10% |
| $10,000 - 40,000 | $1,000 | 12% |
| $40,000 - 85,000 | $4,600 | 22% |
| $85,000 - 160,000 | $14,500 | 24% |
| $160,000 - 200,000 | $32,500 | 32% |
| $200,000 - 500,000 | $45,300 | 35% |
| $500,000 and up | $150,300 | 37% |
Suppose Julios taxable income this year is $50,000. What is his average tax rate?
| a. 31.2% | |
| b. 24.8% | |
| c. 4.4% | |
| d. 22% |
e.
13.6%
please show work
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