Question

A police officer had a taxable income of $47,050 last year. If she paid 10% of her income between $0 and $8350, 15% of her income between $8350 and $33,950, and 25% of her income between $33,950 and $47,050 in federal income tax, how much did the police officer pay in federal income tax last year? a. 3840 b. 3275 c.835 d. 7950

Answer 1

The correct answer is $7950

Explanation:

Answer 2

The correct option will be: d. 7950

Explanation:

The police officer paid 10% of her income between $0 and $8350, 15% of her income between $8350 and $33,950 and 25% of her income between $33,950 and $47,050 in federal income tax.

So, the amount of tax at 10% rate
`=(\$8350-\$0)*0.10=\$8350*0.10 = \$835`,

the amount of tax at 15% rate
`=(\$33950-\$8350)*0.15 = \$25600*0.15=\$3840`

and the amount of tax at 25% rate
`= (\$47050-\$33950)*0.25= \$13100*0.25= \$3275`

Thus, the total amount of federal income tax will be:
`(\$835+\$3840+\$3275)= \$7950`