Refer to Scenario 19.2 below to answer the question(s) that follow.SCENARIO 19.2: An individual earning $40,000 pays $3,200 in taxes. The marginal tax rate on any income earned above $40,000 is 20%.Refer to Scenario 19.2. When this person earns $40,000, her average tax rate is
A. 8%.
B. 12.5%.
C. 20%.
D. indeterminate from this information.
Answer: A
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Answer the following statement true (T) or false (F)
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What will be an ideal response?