A lawyer has an annual income of $173, 482 and will pay a 5.5% income tax rate. What is the amount of income tax in dollars and
cents that the lawyer will have too pay?
1 answer:
Answer:
$9,541.51
Step-by-step explanation:
we know that
5.5%=5.5/100=0.055 ----> income tax rate in decimal form
To find out the amount of income tax, multiply the income tax rate in decimal form by the annual income
so
0.055(173,482)=$9,541.51
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