8.1 Exercise 120

Tax Rates For the tax year 2015, the amount of tax owed by a single person earning between $37,450 and $90,750, can be found by evaluating the formula $0.25 x - 4206.25 ,$ where x is income. The average tax rate for this income can be found by evaluating the formula $\frac{0.25 x - 4206.25}{x} .$ What would be the average tax rate for a single person earning $50,000?