The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a resu…

Question

asked Oct 20, 2021 118k views

1 Answer

Sbp · Answer 1 · 2021-10-24T14:34:35+0000

Answer:

The state tax Patrick must pay on the initial profit is

✔ $346.25

.

The federal tax he must pay on the initial profit is

✔ $1,731.25

.

The inflation on the amount remaining after taxes is

✔ $145.43

.

As a result, the real value of Patrick’s profit in whole dollars is

✔ $4,702

.

Step-by-step explanation: