Suppose Bob earns $20,000 per year and pays $2,000 in taxes, while Cindy earns $40,000 per year and pays $4,000 in taxes. In this scenario, Bob's tax rate is and Cindy's tax rate is: Multiple Choice.
a. 10 percent, 10 percent
b. 20 percent, 10 percent
c. 5 percent; 10 percent
d. 2 percent; 4 percent