Question

Andrew earns $45,300 in taxable income annually, and pays federal income taxes of $5,345.40. What is Andrew's net federal income tax rate? A. 8.47% b. 15.1% c. 11.8% d. 9.1% Please select the best answer from the choices provided A B C D

Answer 1

5345.40 is what percent of 45300
5345.40=45300x
0.118=x --divide both sides by 45300

andrews net federal income tax rate is C) 11.8%

Answer 2

c. 11.8%

Explanation:

We have been given that Andrew earns $45,300 in taxable income annually, and pays federal income taxes of $5,345.40.

To find Andrew's net federal income tax rate, we need to find $5,345.40 is what percent of $45,300.

`\text{Andrew's net federal income tax rate}=(\$5,345.40)/(\$45,300)* 100`

`\text{Andrew's net federal income tax rate}=0.118* 100`

`\text{Andrew's net federal income tax rate}=11.8\%`

Therefore, Andrew's net federal income tax rate is 11.8% and option 'c' is the correct choice.