Mr. Vasquez, a single adult, earned $40,000 in taxable income last year. Use the rate table below to calculate how much he must pay in income taxes?

2013 U. S. Federal Income Tax Rates for Single Adults

10% on taxable income from $0 to $8,925, plus

15% on taxable income over $8,925 to $36,250, plus

25% on taxable income over $36,250 to $87,850, plus

28% on taxable income over $87,850 to $183,250, plus

33% on taxable income over $183,250 to $398,350, plus

35% on taxable income over $398,350 to $400,000, plus

39.6% on taxable income over $400,000.

$10,000

$5928.75

$20,000

$17,890.50

Question

Mathematics

Marvin

8 December, 11:08

Mr. Vasquez, a single adult, earned $40,000 in taxable income last year. Use the rate table below to calculate how much he must pay in income taxes?

2013 U. S. Federal Income Tax Rates for Single Adults

10% on taxable income from $0 to $8,925, plus

15% on taxable income over $8,925 to $36,250, plus

25% on taxable income over $36,250 to $87,850, plus

28% on taxable income over $87,850 to $183,250, plus

33% on taxable income over $183,250 to $398,350, plus

35% on taxable income over $398,350 to $400,000, plus

39.6% on taxable income over $400,000.

$10,000

$5928.75

$20,000

$17,890.50

+3

Answers (2)

Know the Answer?

Aria Pace · Answer 1

Because he earned $40,000 he will have to pay 25%.

40,000 * 25%

25/100 = 0.25

40,000 * 0.25 = 10,000

He will have to pay $10,000 in income taxes.

Charlotte Horn · Answer 2

Answer: He must pay $10,000 in income taxes.

Step-by-step explanation:

Hi, to answer this question we have to analyze the rate table find an interval where the amount earned is included:

Analyzing:

25% on taxable income over $36,250 to $87,850, plus

Our percentage is 25% because $36, 250 < $40,000 < $87,850

Now, we have to calculate the amount by multiplying Mr. Vasquez earnings ($40,000) by the percentage expressed in decimals (25/100 = 0.25)

Mathematically speaking

40,000x 0.25 = $10,000