select the correct answer from each drop - down menu. drew is filing his tax return as single taxpayer. his…

select the correct answer from each drop - down menu. drew is filing his tax return as single taxpayer. his taxable income is $39,000. use the tax table provided to compute drews tax due and effective tax rate. single taxpayers: income brackets tax rate income bracket tax owed 10% 0 to 9,525 10% of taxable income 12% 9,526 to 38,700 $952.50 plus 12% of the excess over $9,525 22% 38,701 to 82,500 $4,453.50 plus 22% of the excess over $38,700 24% 82,501 to 157,500 $14,089.50 plus 24% of the excess over $82,500 32% 157,501 to 200,000 $32,089.50 plus 32% of the excess over $157,500 35% 200,001 to 500,000 $45,689.50 plus 35% of the excess over $200,000 37% > 500,000 $150,689.50 plus 37% of the excess over $500,000 drews tax due is, and his effective tax rate is

select the correct answer from each drop - down menu. drew is filing his tax return as single taxpayer. his taxable income is $39,000. use the tax table provided to compute drews tax due and effective tax rate. single taxpayers: income brackets tax rate income bracket tax owed 10% 0 to 9,525 10% of taxable income 12% 9,526 to 38,700 $952.50 plus 12% of the excess over $9,525 22% 38,701 to 82,500 $4,453.50 plus 22% of the excess over $38,700 24% 82,501 to 157,500 $14,089.50 plus 24% of the excess over $82,500 32% 157,501 to 200,000 $32,089.50 plus 32% of the excess over $157,500 35% 200,001 to 500,000 $45,689.50 plus 35% of the excess over $200,000 37% > 500,000 $150,689.50 plus 37% of the excess over $500,000 drews tax due is, and his effective tax rate is

Answer

Explanation:

Step1: Identify income bracket

Drew's taxable income of $39,000 falls in the $38,701 - $82,500 bracket.

Step2: Calculate tax due

The base - tax for this bracket is $4,453.50. The amount of income over $38,700 is $39,000 - 38,700=300$. The additional tax is $0.22\times300 = 66$. So the tax due is $4,453.50+66=$4,519.50$.

Step3: Calculate effective tax rate

The effective tax rate is $\frac{4519.50}{39000}\times100%\approx11.6%$.

Answer:

Drew's tax due is $$4,519.50$, and his effective tax rate is approximately $11.6%$.