Suppose Ms. Sanchez has a total income of $200,000, has a taxable income of $120,000, and pays $40,000 in taxes. Considering the information, what is Ms. Sanchez's nominal tax rate?

A. 20.0 percent.
B. 33.3 percent.
C. 60.0 percent.
D. 18.5 percent.


Answer: B

Economics

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