Consider the following hypothetical tax schedule, expressed in nominal terms, for the tax year 2021-22. Assuming the CPI is 100 in 2021-22 and 125 in 2022-23, but the government does not adjust the tax schedule for tax year 2022-23, what is the average tax rate in 2022-23 for a household earning $48,000 in 2021-22, assuming their nominal income goes up with inflation? 15% 10% 9.1% 8.6% 7.7%

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