1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
lutik1710 [3]
3 years ago
12

Mitch, a single taxpayer, earns $100,000 in taxable income and $10,000 in interest from an investment in city of Birmingham Bond

s. Using the U.S. tax rate schedule for year 2020, what is his average tax rate (rounded)

Business
1 answer:
omeli [17]3 years ago
3 0

Answer: $18,079.5‬0

Explanation:

The tax is to be paid on the $100,000 alone as the $10,000 is municipal interest and is therefore tax exempt.

Taxes on the $100,000 in 2020;

= 14,605.50 + ( 24% of any amount above 85,525)

= 14,605.50 + ( 24% * ( 100,000 - 85,525))

= $18,079.5‬0

You might be interested in
Which fact supports the idea that renting is a good
kipiarov [429]

The fact that support the idea that renting is a good is Landlords take care of most maintenance.

<h3>What is renting?</h3>

Renting refers to an agreement where a payment is made for the temporary use of a good, service or property owned by another.

It is obtaining a owner's property, in return for regular payments.

Hence, the fact that support the idea that renting is a good is Landlords take care of most maintenance.

Learn more about renting here : brainly.com/question/13393299

#SPJ1

3 0
2 years ago
The marketing team of Under Armour has come up with a strategy to advertise their shoes as a product that makes walking and runn
slavikrds [6]

Answer:

Differentiation

Explanation:

Differentiation is a marketing strategy in which a company makes a particular product unique and attractive in a way that it stands out or is distinguished from other similar products of other companies that are competitors in the same market. Differentiation gives a competitive advantage to a product against other similar products in a market segment.  

Marketing the shoes in a unique way that creates a perceived difference in the minds of customers is a good example of differentiation in marketing, as this would make the shoe unique and even get a premium price slashed on it that customers don’t mind paying.

8 0
3 years ago
you want to put $2,500 in a simple interest account. It has a 4% annual interest rate. How long will it take you to earn $200 in
Solnce55 [7]
It will take 2 years because eaxh year you get 4% of the $2500 which means $100 a year
6 0
3 years ago
A company's income before interest expense and income taxes is $575,000 and its interest expense is $145,000. Its times interest
34kurt

Answer:

3.96

Explanation:

A company's Time Interest Earned ratio shows us its ability to pay its debts.

The income before expenses is given as: $575000

The interest expenses = $145000

The question wants us to find time interest earned ratio. We get this by:

Company's initial income/interest expenses

= $575,000/$145,000

= 3.96

This is the correct answer to the question. The right answer was not listed in the options.

4 0
3 years ago
What is resource partitioning?
Anestetic [448]

Answer:

See explanation below foe answer.

Explanation:

Resource partitioning is a term that refers to the division of resources that are limited by species in order to avoid competition in an ecological niche. In an environment where organisms are in constant  competition for limited resources, there arises the need for the organisms and different species to find ways in which to coexist with one another.

An example of Resource Partitioning be seen when two species of hummingbirds in a tropical rainforest, each using flower nectar as their main source of food. But, individuals of the same species can compete with each other also.

5 0
3 years ago
Other questions:
  • You are interested in hiring an ergonomics consultant to evaluate your employees' desks and chairs. You research four consultant
    8·1 answer
  • In the past some states limited voting rights by
    9·2 answers
  • Early in 2020,Crow Equipment sold 500 Rollomatics at $6,000 each. During 2020, Crow spent $20,000 servicing the 2-year assurance
    15·1 answer
  • Suppose​ Mary, the owner of the Chic Dress​ Shop, says to​ Peter, a​ painter, "If you promise to paint my store by July​ 1, I wi
    12·1 answer
  • Which of the following is an other comprehensive income item found in the statement of stockholders equity? a. Extraordinary ite
    13·1 answer
  • Howard has a chemical burn from accidentally spilling a strong basic cleaning solution onto his arm. It causes a small burn mark
    10·1 answer
  • Raymond scores high on practical intelligence and has extensive knowledge and experience in leading a pharmaceutical research te
    15·2 answers
  • On April 1, Cyclone Co. purchases a trencher for $280,000. The machine is expected to last five years and have a salvage value o
    8·1 answer
  • Which of the marks of good leadership do you feel is the most important? (Take your time)
    5·1 answer
  • QUESTION 15 One of the benefits of downsizing is: higher customer satisfaction. improved efficiency. a more loyal and productive
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!