Question

Ethan's taxable income is $87,525. Use this tax schedule to calculate the total amount he owes in taxes. $10,425.75 $18,617.75 $26,123.75

Answer 1

$18,617.75

Explanation:

$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