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Ethan's taxable income is $87,525. Use this tax schedule to calculate the total amount he owes in taxes

Ethan's taxable income is $87,525. Use this tax schedule to calculate the total amount he owes in taxes
asked 213k views
1 vote
Ethan's taxable income is $87,525. Use this tax schedule to calculate the total amount he owes in taxes

asked
User Prunus Persica
by
8.5k points

2 Answers

3 votes

Answer:18,617.75

Explanation:

answered
User Biggs
by
8.5k points
5 votes

$18,617.75 is the answer
$87,525-$77,100=$10,425 (the amount over $77,100)
$10,425 x .28=$2,919 (the 28% taxed amount over $77,100)
$2,919+$15,698.75 (the already taxed amount in the chart)=$18,617.75
answered
User KorbenDose
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7.7k points
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