lamaster159
lamaster159 lamaster159
  • 13-05-2017
  • Mathematics
contestada

Use this tax table to find how much tax you need to pay on a taxable income of $40,000.
A. $6,423.75

B. $8,150.50

C. $12,536.25

Use this tax table to find how much tax you need to pay on a taxable income of 40000 A 642375 B 815050 C 1253625 class=

Respuesta :

lisee7 lisee7
  • 13-05-2017
A

40,000-31,850= 8,150times .25= 2,037.50

4,386.25+2,037.50= $6,423.75
Answer Link
TaeKwonDoIsDead
TaeKwonDoIsDead TaeKwonDoIsDead
  • 24-11-2018

According to table, $40,000 falls in the 3rd category (between $31,850 - $77,100).

The tax is "$4,386.25 + 25% of amount OVER 31,850"

Translating this to maths, we have:

[tex]4386.25+(0.25)(40,000-31,850)\\=4386.25+(0.25)(8150)\\=4386.25+2037.5\\=6423.75[/tex]

Choice A is correct.


ANSWER: A

Answer Link

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