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goldenfox [79]
3 years ago
7

Imagine you live in a society with progressive taxation. Your friend makes half of your salary and pays 20 percent in income tax

es. Which rate most likely would be your income tax rate?
A) 2%
B) 10%
C) 20%
D) 40%
Business
2 answers:
svlad2 [7]3 years ago
5 0
A progressive tax means that the more you earn, the higher is the percentage of the taxes that you need to pay: this prevents poverty and supports an equal distribution of wealth.

So if you make more than your friend, you need to also pay more. Only 40% is more, so the correct answer is D)!
Yanka [14]3 years ago
4 0

The correct answer is D) 40%. Progressive tax refers to the tax brackets people fall in and how they tax those brackets. Those with a lower rate of tax have a lower income than those with a higher income do with a higher tax rate. Due to them imposing a higher tax rate on those with a higher income level, the answer D 40%, is the only percentage tax rate that is higher than 20%.

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Question

A new machine, with a 4-year life, has an initial cost of $1,200 and annual costs of $380. The equivalent annual cost of this machine is best described as the"

Assuming an interest rate of 10%

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Answer:

Equivalent Annual cost =  $758.56

Explanation:

The equivalent annual cost is the present value of cost of the new machine divided by the annuity factor.

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Equivalent Annual cost = 2,404.55 / 3.1699 = $758.5649

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