The tax rates for a particular year are shown below:
Taxable Income Tax Rate
$0 – 50,000 15 %
50,001 – 75,000 25 %
75,001 – 100,000 34 %
100,001 – 335,000 39 %
What is the average tax rate for a firm with taxable income of $129,013?
Multiple Choice
39.00%
26.02%
28.51%
20.00%
36.92%