The marginal tax rate chart provides the following information:
$0–$10,275: 10%
$10,276–$41,175: 12%
$41,176–$89,075: 22%
$89,076–$170,050: 24%
$170,051–$215,950: 32%
$215,951–$539,900: 35%
Over $539,901: 37%
Determine the effective tax rate for a taxable income of $145,690. Round the final answer to the nearest hundredth.
a) 24.39%
b) 22.00%
c) 19.81%
d) 17.00%
