Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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7.8.25 d)
use table 7.13
the effective tax rate for an income was calculated by doing 15856/80000 which equaled 19.82%.
compute the effective tax rate a second time, as a weighted average of the rates in the various brackets, using as weights the amount of income subject to tax at each rate. you should get the same answer.
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