Question

A broker had a taxable income of $77,050 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 $77,050 in federal income tax, how much did the broker pay in federal income tax last year?

Answer 1

10 percent is the same as saying 0.10 so we simply do this sum of all parts approach.

`(.10 *8350)+(.15 *(33950-8350)) + (.25*(77050-33950))`

You should get an answer a bit over 15000 if you plug it into your calculator. Remember, you are taxing a certain amount of dollars at each percentage so don't get hung up on the structure of the taxes. This is why we are subtracting the smaller number from the bigger

Answer 2

15450 APEX

Explanation:

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