Question

(Federal Income Taxes and Piecewise Functions MC)

Use the marginal tax rate chart to answer the question.


Marginal Tax Rate Chart
Tax Bracket Marginal Tax Rate
$0–$10,275

10%

$10,276–$41,175

12%

$41,176–$89,075

22%

$89,076–$170,050

24%

$170,051–$215,950

32%

$215,951–$539,900

35%

> $539,901

37%



Determine the effective tax rate for a taxable income of $75,400. Round the final answer to the nearest hundredth.
10.05%
16.27%
22.00%
24.90%

Answer 1

22%

Answer 2

why tho?

Answer 3

because it falls under the area of $41,176-$89,075

Answer 4

there is no 22% though btw

Answer 5

that's literally one of the options at the bottom

Answer 6

@funjaguar17 that's literally the 3rd option

Answer 7

i forgot its that question

Answer 8

people like manny are why we can't get taxes fixed in this country @vocaloid

Answer 9

whats the answer?

Answer 10

@nuts u don't know shi

Answer 11

the way they want you to do it is calculate the tax rate for each bracket and then calculate that as a percentage of the income.

Answer 12

but because it's a multiple choice question you can figure out the question with common sense.

Answer 13

how u do that?

Answer 14

the tax rate can't be over 22% since that's over the largest income bracket

Answer 15

likewise, it can't be 22% because some of your income is taxed at a lower rate in the other 2 brackets

Answer 16

and you almost certainly aren't getting taxed at 10.05% because most of your income doens't fall under the smallest 10% tax bracket

Answer 17

so do they want the percentage or the 22% of 75,400

Answer 18

so there's only one answer that even makes sense here and that's without even doing any actual arithmetic