Answer:
Given that,
Taxable income = $75,000
Interest from an investment = $10,000
Using the U.S tax rate schedule in 2017
(a) Federal tax will he owe = $5,226.25 + 25% × ($75,000 - $37,950)
= $5,226.25 + $9262.5
= $14,488.75
(b) ![Average\ Tax\ Rate = \frac{Total\ Tax}{Taxable\ Income}](https://tex.z-dn.net/?f=Average%5C%20Tax%5C%20Rate%20%3D%20%5Cfrac%7BTotal%5C%20Tax%7D%7BTaxable%5C%20Income%7D)
= 19.32%.
(c)![Effective\ Tax\ Rate = \frac{Total\ Tax}{Total\ Income}](https://tex.z-dn.net/?f=Effective%5C%20Tax%5C%20Rate%20%3D%20%5Cfrac%7BTotal%5C%20Tax%7D%7BTotal%5C%20Income%7D)
![Effective\ Tax\ Rate = \frac{14,488.75}{75,000 + 10,000}](https://tex.z-dn.net/?f=Effective%5C%20Tax%5C%20Rate%20%3D%20%5Cfrac%7B14%2C488.75%7D%7B75%2C000%20%2B%2010%2C000%7D)
= 17.05%
(d) Chuck is currently in the 25 percent tax rate bracket.
His marginal tax rate on increases in income up to $16,900 and deductions from income up to $37,050 is 25 percent.
Answer:
The private savings as a share of the GDP must have declined.
Explanation:
according to the twin deficit hypothesis:
budget deficit = savings + trade deficit - investments
the government deficit as a share of GDP declined and investment as a share of GDP remained constant that means that the savings should decline.
Answer:
$4,760
Explanation:
The value a company will record for the dishwasher will be the amount that was used to purchase the dishwasher plus the associated cost of transporting and installing the dishwasher.
The price of the dishwasher to be used is the actual amount it was bought and not the fair value.
Amount recorded for dishwasher= Price + Transportation + Installation fees
Amount recorded for dishwasher= 4,200 + 330 + 230
Amount recorded for dishwasher= $4,760
Note the fee for illegal parking is not considered because it is not a direct cost related to purchase of the dishwasher