Homework Answers
His marginal tax rate is 10%.
Thus he will make 90% of 11 per hour. He is actually making after tax = $11 * .9
= $9.9
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Suppose Layton makes $11 per hour at his job and his marginal tax rate is 10%....
Suppose Gary gets 5% return on his investment before tax. If his marginal tax rate is...
Suppose Gary gets 5% return on his investment before tax. If his marginal tax rate is 10% then, what is he actually making after tax (what is the after tax return)? Answer: Check
Suppose Gary gets 12% return on his investment before tax. If his marginal tax rate is...
Suppose Gary gets 12% return on his investment before tax. If his marginal tax rate is 12% then, what is he actually making after tax (what is the after tax return)? Answer: Check
Required: a. If Matt expects his marginal tax rate to be 22.00 percent for the next...
Required: a. If Matt expects his marginal tax rate to be 22.00 percent for the next 10 years, how much interest will he earn after-tax for the first year of his investment? b. How much interest will he earn after-tax for the second year of his investment if he withdraws enough cash every year to pay the tax on the interest he earns? c. How much will he have in the account after four years? d. How much will he...
Robert's marginal tax rate is 37% and his average tax rate is 20%. Robert is considering...
Robert's marginal tax rate is 37% and his average tax rate is 20%. Robert is considering making a $10,000 charitable contribution at year-end. Which of the following is true? A. Making the charitable contribution could save him $3,700 in taxes. B. His "true" after-tax cost of the charitable contribution is $8,000 assuming he itemizes. C. If he takes the standard deduction, the charitable contribution will have no effect on his taxes. D. A and C are true. E. B and...
Suppose we have the following schedule of tax rates 10% on the first $10,000 15% on...
Suppose we have the following schedule of tax rates 10% on the first $10,000 15% on the next $20,000 20% on the next $30,000 30% on anything above that Calculate the total taxes owed by someone with $55,000 of income. What is his marginal tax rate? What is his average tax rate? Suppose that someone’s income rises from $55,000 to $65,000 due to a promotion. How much does his after-tax income change?
Suppose that Peter's marginal utility for cups of coffee is constant at 2.5 utils per cup...
Suppose that Peter's marginal utility for cups of coffee is constant at 2.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 12 for the first doughnut he eats, 11 for the second he eats, 10 for the third he eats, and so on (that is, declining by 1 util per additional doughnut). In addition, suppose that coffee costs $1 per cup, doughnuts cost $1 each, and Peter has...
25. Your client's federal marginal income tax rate is 35%, and his state marginal income tax...
25. Your client's federal marginal income tax rate is 35%, and his state marginal income tax rate is 5%. He is considering investing in a municipal bond issued by his local municipality that will yield him 6%. Calculate the taxable equivalent yield of this bond. A. 3.60% B. 8.40% C. 9.23% D. 10.00%
Judd has one hour of time. His objective is to eat bowls of fresh coleslaw and...
Judd has one hour of time. His objective is to eat bowls of fresh coleslaw and drink fruit smoothies. He has to make both from scratch. It takes 6 minutes for him to make a fruit smoothie and 30 minutes to make a proper fresh coleslaw. So if he spend half of his time making smoothies and half of his time making coleslaw, he can have 5 fruit smoothies and 1 bowl of coleslaw Judd is friends with Sarah. While...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10%...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10% (and these are the only taxes), a corporation with $20,000 of operating income, what is the after-tax disposable income the corporation generated for its owners? The tax rate is 5% between $0-$10,000 and 12% between $10,001 _$20,000. If you earn $12,000, then what is the average tax rate and the marginal tax rate? b) 4) a) You decide that your family would be comfortable...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10%...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10% (and these are the only taxes), a corporation with $20,000 of operating income, what is the after-tax disposable income the corporation generated for its owners? The tax rate is 5% between $0-$10,000 and 12% between $10.001-$20,000. If you earn $12,000. then what is the average tax rate and the marginal tax rate? 4) a) You decide that your family would be comfortable living on...
Suppose Gary gets 5% return on his investment before tax. If his marginal tax rate is 10% then, what is he actually making after tax (what is the after tax return)? Answer: Check
Suppose Gary gets 12% return on his investment before tax. If his marginal tax rate is 12% then, what is he actually making after tax (what is the after tax return)? Answer: Check
Required: a. If Matt expects his marginal tax rate to be 22.00 percent for the next 10 years, how much interest will he earn after-tax for the first year of his investment? b. How much interest will he earn after-tax for the second year of his investment if he withdraws enough cash every year to pay the tax on the interest he earns? c. How much will he have in the account after four years? d. How much will he...
Suppose that Peter's marginal utility for cups of coffee is constant at 2.5 utils per cup no matter how many cups he drinks. On the other hand, his marginal utility per doughnut is 12 for the first doughnut he eats, 11 for the second he eats, 10 for the third he eats, and so on (that is, declining by 1 util per additional doughnut). In addition, suppose that coffee costs $1 per cup, doughnuts cost $1 each, and Peter has...
25. Your client's federal marginal income tax rate is 35%, and his state marginal income tax rate is 5%. He is considering investing in a municipal bond issued by his local municipality that will yield him 6%. Calculate the taxable equivalent yield of this bond. A. 3.60% B. 8.40% C. 9.23% D. 10.00%
Judd has one hour of time. His objective is to eat bowls of fresh coleslaw and drink fruit smoothies. He has to make both from scratch. It takes 6 minutes for him to make a fruit smoothie and 30 minutes to make a proper fresh coleslaw. So if he spend half of his time making smoothies and half of his time making coleslaw, he can have 5 fruit smoothies and 1 bowl of coleslaw Judd is friends with Sarah. While...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10% (and these are the only taxes), a corporation with $20,000 of operating income, what is the after-tax disposable income the corporation generated for its owners? The tax rate is 5% between $0-$10,000 and 12% between $10,001 _$20,000. If you earn $12,000, then what is the average tax rate and the marginal tax rate? b) 4) a) You decide that your family would be comfortable...
3) a) If the corporate tax rate is 30% and the individual tax rate is 10% (and these are the only taxes), a corporation with $20,000 of operating income, what is the after-tax disposable income the corporation generated for its owners? The tax rate is 5% between $0-$10,000 and 12% between $10.001-$20,000. If you earn $12,000. then what is the average tax rate and the marginal tax rate? 4) a) You decide that your family would be comfortable living on...
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