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mote1985 [20]
3 years ago
10

If your salary is $42,500 and your federal income taxes are 10% of your salary, how much money will you owe this year in federal

taxes? Assume you have no deductio
Business
1 answer:
SIZIF [17.4K]3 years ago
5 0
Income                   $42,500
Less:
Deductions           <u>           0</u>
Taxable Income    $42,500
Tax rate                  <u> x        10%</u>
Tax payable             $4,250

Bear in mind that since the problem is silent, I have assumed that deductions based on marital status, exemptions, PERS or TIAA/CREF retirement contributions are all equivalent to zero (0).


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