Answer:
total tax liability = $8771.25
Explanation:
given data
taxable income up to $9,275 single individuals = 10 %
income of $9,276 to $37,650 = 15 %
income of $37,651 to $91,150 = 25 %
solution
we know here amount upto $9,275 is
amount upto $9,275 = $9,275 × 10% = $927.50 ..........1
and
amount $9,276 to $37,650 = ( 37650 - 9276 ) × 15% = $4257.45 ........2
and
amount $37,650 to $50,000 = ( 50000 - 37650) × 25% = $3587.50 ............3
so now add all 3 equation we get
total tax liability = $927.5 + $4256.25 + $3587.5
total tax liability = $8771.25
Tax Bracket rate amount
upto $ 9,275 10% $ 927.50
next (37650-9275) $ 28,375 15% $ 4,256.25
remaining $ 14,350 25% $ 3,587.50
total $ 52,000 $ 8,771.25
