Suppose your annual income is $50,000 in the country of “Mar…

Suppose your annual income is $50,000 in the country of “Mars Land” and as per Internal Revenue Services of Mars Land you are eligible for a $25,000 standardized deduction from your taxable income. Your tax is subject to the following marginal tax rates: Income threshold Tax Rate $0 to $10,000 8 percent $10,001 to $20,000 15 percent $20,001 and above 25 percent   Compute the average tax rate for your taxable income. Please express your answer in percentage points up to 2 decimal points