I need help on this one please
1 answer:
Hi
Income tax is progressive
So with 50 000 we have :
0.02*3000 + 0.03 ( 5000 -3001) + 0.05 ( 17 000-5001) + 0.0575 ( 50 000 - 17 001) = 60+ 59.97+599.95 + 1897.44 = 2617.36
tax is = 2617.36
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