Question

Joe's taxable income is $67,825. Use this tax schedule to calculate the total amount he owes in taxes.1. $8,993.752. $13,380.003. $12,348.80

Answer 1

the total amount he owes in taxes $13,380.003

Answer 2

Table:

If Taxable Income Is Over -- But Not Over

$\left[\begin{array}{ccc} 0& 7,825\\ 7,825& 31,850\\ 31,850& 77,100\\ 77,100& 160,850\\ 160,850& 349,700\\ 349,700&No-Limit\end{array}\right]$

The Tax Is:

10 percent of the amount over $0

$782.50 plus 15 percent of the amount over 7,825

$4,386.25 plus 25 percent of the amount over 31,850

$15,698.75 plus 28 percent of the amount over 77,100

$39,148.75 plus 33 percent of the amount over 160,850

$101,469.25 plus 35 percent of the amount over 349,700

Answer Choices:

$\left[\begin{array}{ccc}A. 12,348.80\\B. 4,386.25\\C. 13,380.00\\D. 8,993.75\end{array}\right]$

Answers:

$\left[\begin{array}{ccc}A. 12,348.807&Wrong\\B. 4,386.25&Wrong\\C. 13,380.00&Correct\\D. 8,993.75&Wrong\end{array}\right]$