4. If a person makes $51,784 annually, and pays $15,279 in Federal Tax, what is the tax rate percentage (round to the hundredths place)?

Respuesta :

Based on the information the tax rate percentage is 29.61%.

Using this formula

Tax rate percentage=Amount paid as Federal tax ÷Annual Salary×100

Where:

Amount paid as Federal Tax=$15,279

Annual Salary=$51,784

Let plug in the formula

Tax rate percentage=$15,279÷$51,784×100

Tax rete percentage=29.505%

Tax rate percentage=29.51%(Approximately)

Inconclusion the tax rate percentage is 29.61%.

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