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If your taxable income is $106000, your gross income is $135000, and you paid $38000 in taxes, what is your average tax rate? A
If your taxable income is $106000, your gross income is $135000, and you paid $38000 in taxes, what is your average tax rate?
A. 36%
B.40%
C. 48%
D. 33%
Expert Solution
Answer : Option A. 36%
Calculation :
Average Tax Rate = (Tax Paid / Taxable Income ) * 100
= (38000 / 106000 ) * 100
= 36%
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