Homework Answers
ANSWER:-
Taxable Income =$101000
| Tax Rate | Taxable Income($) | Calculation | Amount($) | |
|
1 |
10% | 0 - 19400 | $19400 * 10% | 1940 |
|
2 |
12% | 19401 - 78950 | ($78950 - $19400) * 12% | 7146 |
| 3 | 22% | 78951- 168400 | ($101000- $78950) * 22% | 4851 |
|
The amount of taxes they will pay |
1+2+3 | 13937 | ||
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