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
GrogVix [38]
3 years ago
8

Tim earns income of $60,000 per year and pays $21,000 per year in taxes. Tim paid 20 percent in taxes on the first $30,000 he ea

rned. What was the marginal tax rate on the second $30,000 he earned?
a. 20 percent
b. 30 percent
c. 50 percent
d. 70 percent
Business
1 answer:
svetoff [14.1K]3 years ago
7 0

Answer:

c. 50 percent

Explanation:

The amount of tax to paid by Tim on the second income he earned during the year shall be calculated as follow:

Amount of tax on 2nd income=21,000-(20%*30,000)

                                                  =21,000- 6,000

                                                  =$15,000

Marginal tax rate on 2nd income=Amount of tax on 2nd income/2nd income earned during year

Marginal tax rate=15,000/30,000=50%

So the answer is c. 50 percent

                                 

You might be interested in
Under the Uniformed Services Employment and Reemployment Rights Act of 1994, employers must reemploy workers who left jobs to fu
tigry1 [53]

Answer:

The correct answer is: <u>5 years</u>.

Explanation:

To begin with, the Uniformed Services Employment and Reemployment Rights Act of 1994 is the name given to an American law in the U.S. federal government in order to protect the rights of the civilians who were called to serve in military services regarding the subjects of their jobs and employment. It was signed into law by the U.S. President Bill Clinton in October 13, 1994.

Secondly, the criteria from the act known as USERRA establishes that the maximun period of time that a person could be absent from his work due to military duties and still retain reemployment according to the act is up to five years.

7 0
3 years ago
Which of the following is acceptable behavior?
xz_007 [3.2K]

Answer:

All of the above.

5 0
3 years ago
Assume a project will increase inventory by $61,000, accounts payable by $28,000, and accounts receivable by $36,000. what is th
masha68 [24]

The initial net working capital requirement for this project exists $69,000.

<h3>What is meant by net working capital?</h3>

The difference between a company's current assets such as cash, accounts receivable/unpaid invoices from customers, and inventories of raw materials and completed goods and its current liabilities such as debts and accounts payable is known as working capital, sometimes known as net working capital (NWC).

The difference between a company's current assets and current liabilities is known as net working capital. A company's balance sheet is used to calculate net working capital. The more net working capital you have, the more probable it is that your business will be able to pay its present commitments.

net working capital requirement = $61,000 − 28,000 + 36,000

net working capital requirement = $69,000

The initial net working capital requirement for this project exists $69,000.

To learn more about net working capital refer to:

brainly.com/question/26214959

#SPJ4

8 0
2 years ago
How would you classify an employee who communicates effectively, listens to coworkers, and makes good decisions?
Lisa [10]
Superior interpersonal skills
8 0
3 years ago
Read 2 more answers
Mention two benefits of positive values at the work place​
Trava [24]

giving health care and paying salary

6 0
3 years ago
Other questions:
  • Lobbying is a. an attempt by an individual or group to influence the passage of legislation by exerting indirect pressure, throu
    10·2 answers
  • What is a realistic goal?
    7·1 answer
  • Using the information provided, analyze the affects of Lawry Lawn Service's transactions on the accounting equation.
    10·1 answer
  • You are considering how to invest part of your retirement savings.You have decided to put $ 400 comma 000 into three​ stocks: 56
    7·1 answer
  • When an organization comes to the realization that there are quality problems in products that are already in service, ethical a
    8·1 answer
  • In the following​ statements, who is a free rider​?
    8·1 answer
  • Assume a project has earnings before depreciation and taxes of $15,000, depreciation of $25,000, and that the firm has a 30% tax
    7·1 answer
  • Which one of the following affects cash during a period?
    6·1 answer
  • What is one consequence of stagflation?
    8·1 answer
  • Chipman Sofware recently reported the following amounts in its unadjusted trial balance at its year-end:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!