Asked by Christy Zavala on May 06, 2024
Verified
If Mr.S.Hussein had a taxable income of $100,000 and earned an additional $100,000 interest on tax-exempt government bonds,if he paid $27,000 in taxes,how much would his average tax rate be?
Taxable Income
The portion of an individual's or corporation's income that is subject to taxation by governmental authorities.
Tax-Exempt
Not subject to tax by federal or local governments, often applied to charitable organizations or certain financial earnings.
- Determine the repercussions of fiscal policies on the financial health of individuals and families.
Verified Answer
DB
dagnachew bizunehMay 11, 2024
Final Answer :
ATR = taxes paid/taxable income = $27,000/$100,000 = 27 percent
Learning Objectives
- Determine the repercussions of fiscal policies on the financial health of individuals and families.
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