Now consider another hypothetical tax code. Assume the tax rate on the first $15,000 of taxable income is 10% and the tax rate o
n any additional income is 18%. The standard deduction ($6,350) and personal exemption ($4,050) still apply.
In other words:
• For taxable income from $0 to $15,000, you pay 10% of your taxable income in taxes, plus
• For taxable income above $15,000, you pay 18% of your taxable income.
1. If your total income before exemptions were $10,000 how much would you pay in taxes?
2. If your total income were $20,000 how much would you pay in taxes?
3. If your total income were $50,000 how much would you pay in taxes?
4. Write a function to model the total tax paid, T(x), with a total income of x dollars.
NOTE: For a Total Income of $80,000, an individual would pay $11,328 in taxes.
