Transcript text: the piecewise function represents the amount of taxes owed, $f(x)$, as a function of the taxable income, $x$. Use the marginal tax rate chart or the piecewise function to answer the question.
Marginal Tax Rate Chart
\begin{tabular}{|l|l|}
\hline \multicolumn{1}{|c|}{ Tax Bracket } & Marginal Tax Rate \\
\hline$\$ 0-\$ 10,275$ & $10 \%$ \\
\hline$\$ 10,276-\$ 41,175$ & $12 \%$ \\
\hline$\$ 41,176-\$ 89,075$ & $22 \%$ \\
\hline$\$ 89,076-\$ 170,050$ & $24 \%$ \\
\hline$\$ 170,051-\$ 215,950$ & $32 \%$ \\
\hline$\$ 215,951-\$ 539,900$ & $35 \%$ \\
\hline$>\$ 539,901$ & $37 \%$ \\
\hline
\end{tabular}
\[
f(x)=\left\{\begin{array}{ll}
0.10 x, & 0 \leq x \leq 10,275 \\
0.12 x-205.50, & 10,276 \leq x \leq 41,175 \\
0.22 x-4,323.00, & 41,176 \leq x \leq 89,075 \\
0.24 x-6,104,50, & 89,076 \leq x \leq 170,050 \\
0.32 x-19,708,50, & 170,051 \leq x \leq 215,950 \\
0.35 x-26,187.00, & 215,951 \leq x \leq 539,900 \\
0.37 x-36,985,00, & x \geq 539,901
\end{array}\right.
\]
Determine the effective tax rate for a taxable income of $\$ 63,425$. Round the final answer to the nearest hundredth.
$10 \%$
$14.67 \%$
$15.18 \%$
$22 \%$
Provious Ouestion
Question 1 (Not Answered) 0
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