Maria has a total tax of $3072 and a gross income of $60449. What is her effective tax rate (as a percent)?
1 answer:
Answer:
Effective tax rate of Maria is 5.08%.
Step-by-step explanation:
Effective tax rate ETR = ![\frac{Total tax}{gross income}](https://tex.z-dn.net/?f=%5Cfrac%7BTotal%20tax%7D%7Bgross%20income%7D)
As a percent we can represent ETR =
×100
In this question Maria has a total tax = $3072 and gross income = $60449
By putting these values in the formula ETR =
×100 = 5.08
Therefore her effective tax rate is 5.08%.
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