What flat tax rate would be necessary to collect 800,000 on 4,970,000

asked Aug 4, 2020 125k views

2 votes

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2 votes

Answer:

16.096 %

Explanation:

We want a tax rate (r) such that:

$800000=r*4970000\\r=(800000)/(4970000) =0.160965$

This tax rate corresponds to 16.096 %

Krxldfx answered Aug 8, 2020

6.6k points

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