Final answer:
Marc's average tax rate can be calculated by dividing his total tax liability by his taxable income. However, to perform an accurate calculation, actual tax brackets for 2022 are required, which are not provided. Examples given are based on hypothetical tax rates to illustrate how the calculation would be done.
Step-by-step explanation:
Calculating the average tax rate for Marc, a single taxpayer with a taxable income of $62,000 and investment interest of $5,200, first requires understanding how marginal tax rates work. In the U.S. for 2022, tax rate schedules dictate that income is taxed progressively at different rates within specific ranges. For the sake of this calculation, we will focus on the taxable income and not include the tax-exempt interest from city bonds. As we do not have the exact tax brackets for 2022 in the provided information, let's assume the marginal tax rates from the examples given, knowing that the actual rates may differ.
For illustration, suppose the rates were 10% on income from $0 to $9,075, 15% on income from $9,075 to $36,900, and 25% on income from $36,900 onwards. However, Marc's actual tax liability would depend on the specific tax brackets for 2022. To find the average tax rate, we divide the total tax paid by the total taxable income. If Marc's tax liability were calculated based on these assumed rates, his average tax rate would be lower than his marginal tax rate due to the progressive nature of the tax system.