Select the correct answer. Julie's taxable income is $50,000. The table gives the federal tax brackets for different levels of taxable income. Julie pays a progressive tax. How much will she pay in income tax this year? Tax Rate Taxable Income Level 10% $0-$9,225 15% $9,226-$37,450 25% $37,451-$90,750 28% $90,751-$189,300 33% $189,301-$411,500 35% $411,501-$413,200 39.60% above $413,200 A. $5,332.25 B. $8,293.35 C. $9,552.50 D. $12,500.00 E. $14,350.85

Question

Mathematics

Schotzie

23 February, 08:35

Select the correct answer. Julie's taxable income is $50,000. The table gives the federal tax brackets for different levels of taxable income. Julie pays a progressive tax. How much will she pay in income tax this year? Tax Rate Taxable Income Level 10% $0-$9,225 15% $9,226-$37,450 25% $37,451-$90,750 28% $90,751-$189,300 33% $189,301-$411,500 35% $411,501-$413,200 39.60% above $413,200 A. $5,332.25 B. $8,293.35 C. $9,552.50 D. $12,500.00 E. $14,350.85

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Toodles · Answer 1

Answer: B$8293.35

Step-by-step explanation:

922.5x10%=922.5

37450-9226=2822.4 2822.4x15%=4233.6

50000-37451=12549 12549x25%=3137.25

922.5+4233.6+3137.25=8293.35

You have to use the percentage in each tier