Separate 22 into two parts of the first part is four more than the second part
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Part A
Purchase Value of Anna's Car in 2015 = $36,000
Depreciated Value of Anna's Car in 2017 = $25,000
We know that the value of the car is depreciating linearly.
From the above data, we can see that the value of the car has reduced by $36,000-$25,000 = $11,000 over 2 years.
⇒ Per year the value has been depreciated by
⇒ Per year the value has been depreciated by $5,500
So if the value of a car in 2015 is V₀ then value of the car after t years can be determined by the below function:
V (t) = V₀ - (t*5,500), where t indicates the years passed since 2015
OR V (t) = 36,000 - (t*5,500), where t indicates the years passed since 2015
Part B
Suggested value of Anna's car for trade in option in 2018 = $15,000
In 2018, 3 years would have been passed since 2015. Using the value of t = 3 in the function determined in Part A:
V(3) = V₀ - (3*5,500)
⇒ V(3) = 36,000 - (16,500)
⇒ V(3) = $19,000
From the above calculations, we can see that the value of the car in 2018 should be $19,000, however the suggested value for trade in is indicated as $15,000 which is lower than what the value of the car should be. Hence, basis linear depreciation, the $15,000 value is not fair for the car in 2018.
1.) Taxable income is 22,764.42 (income 90,714 less range which is more than 87,850 but less than 183,250 = 2,864 multiply to its corresponding tax rate of 28% = 801.92 plus its corresponding amount of 21,962.50 = 22,764.42)
2.) Taxable income is 12,140.75
3.) Taxable income is 63,634.18
4.) Taxable income is 44,097.62
5.) Taxable income is 63,691.60
6.) Taxable income is 24,598.98
7.) Taxable income is 59,234.62
8.) Taxable income is 171,662.58
9.) Taxable income is 184,033.22
10.) Taxable income is 183,997.18
11.) Taxable income is 61,067.11
12.) Taxable income is 153,877.82
13.) Taxable income is 241,356.99
14.) Taxable income is <span>274,376.26
</span>
15.) Taxable income is 97,208.05
Note: Use the "from" amount as the basis, so if the income is 10,000 then you'll deduct 8,925 (basis) from 10,000 (since 10,000 is more than 8,925 but less than 36,250)
2.) Taxable income is 12,140.75
3.) Taxable income is 63,634.18
4.) Taxable income is 44,097.62
5.) Taxable income is 63,691.60
6.) Taxable income is 24,598.98
7.) Taxable income is 59,234.62
8.) Taxable income is 171,662.58
9.) Taxable income is 184,033.22
10.) Taxable income is 183,997.18
11.) Taxable income is 61,067.11
12.) Taxable income is 153,877.82
13.) Taxable income is 241,356.99
14.) Taxable income is <span>274,376.26
</span>
15.) Taxable income is 97,208.05
Note: Use the "from" amount as the basis, so if the income is 10,000 then you'll deduct 8,925 (basis) from 10,000 (since 10,000 is more than 8,925 but less than 36,250)