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Ira Lisetskai [31]
3 years ago
15

Randall is single and has total income from all sources (taxable and nontaxable) of $83,000. His taxable income is $62,000. Rand

all's tax liability is $11,239. What is Randall's effective tax rate?
Business
1 answer:
bekas [8.4K]3 years ago
6 0

Answer:

effective tax rate = 13.54

Explanation:

given data

total income = $83,000

taxable income = $62,000

tax liability = $11,239

to find out

effective tax rate

solution

we get here effective tax rate that is express as

effective tax rate = \frac{total\ tax}{total\ income}    .................1

put here value and we get

effective tax rate = \frac{11239}{83000}  

effective tax rate = 13.54

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