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Business, 01.09.2020 21:01 eliarnol9517

Determine the average amount of taxable income per tax return, for each of the ranges of taxable income provided, using the information in the below table. Taxable Income and Total Tax Liability are in thousands. (Enter your answers in dollars rounded to the nearest dollar value) Ranges of Adjusted Gross Income ItemUnder $15,000$15,000 to under $30,000$30,000 to under $50,000$50,000 to under $100,000$100,000 to under $200,000$200,000 or more Number of returns 36,868,111 30,591,169 25,344,865 31,214,450 15,669,954 5,259,835 Taxable income$25,071,854 $215,157,181 $532,917,061 $1,487,794,538 $1,573,704,933 $2,521,984,594 Total income tax liability$2,162,407 $18,673,619 $54,670,156 $192,715,858 $266,232,620 $657,115,159 Average tax rate 8.62% 8.68% 10.26% 12.95% 16.92% 26.06%

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