Answer:
$44,850
Step-by-step explanation:
Gross income is $65,500
Allowable deductions are $2,500
Operating income is $65,500-$2,500=$63,000
From the given tax structure, Veronia will pay 15% for the first $25,000 then 30% for $63,000-$25,000=$38,000
Tax will be (0.15*$25,000)+(0.3*$38,000)=$15,150
Remaining expenses will be $5,500-$2,500=$3,000
Income after tax will be $63,000-$15,150=$47,850
Net income=$47,850-$3,000=$44,850
<u>Ans=$44,850</u>
