Question

A single person making $20,000 would pay ________ per cent on $7,550 and 15% on the remainder..

Answer 1

Answer:

10 per cent.

Explanation:

$7,550 falls under 10% in the marginal tax rate for a single person.

The remainder is $20,000 - $7,550

= $12,450.

That falls under 15%.

Therefore a single person making $20,000 will pay 10% for $7,550.