Discussion: Piecewise Function There is no tax on income up to $18,000. Income between $18,000 and...
Discussion: Piecewise Function
There is no tax on income up to $18,000. Income between $18,000 and $32,000, inclusive, is taxed at 15%. Income over $32,000 is taxed at 25%.
a) Write a piece-wise function that models the tax structure.
b) Determine the tax paid on income of $21,500.
c) Graph the piece-wise function.
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Discussion: Piecewise Function
There is no tax on income up to $18,000. Income between $18,000
and...
Give a piecewise function that assigns to each (taxable) income up to $202,800, the federal tax...
Give a piecewise function that assigns to each (taxable) income up to $202,800, the federal tax paid on that income, using the following information taken from: Government of Canada1 The federal tax rates are: • 15% on the first $45,916 of income, plus • 20.5% on the next $45,915 of income (on the portion of income over $45,916 up to $91,831), plus • 26% on the next $50,522 of income (on the portion of income over $91,831 up to $142,353),...
12. If the government follows an income tax system in which income up to $25,000 is...
12. If the government follows an income tax system in which income up to $25,000 is taxed 4%, income greater than $25,000 and less than or equal to $50,000 is taxed at a rate of 10% and income over $50,000 is taxed at a rate of 25%; then a family earning $60,000 will pay an average tax rate of (assumed there is no deductions or exemptions): 12.5% 15% 25% 10%
uppose a state has the following individual income tax structure. The first $20,000 that an individual...
uppose a state has the following individual income tax structure. The first $20,000 that an individual earns is taxed at 5%. The next 30,000 is taxed at 10%. Any income exceeding $50,000 is taxed at 20%. Based on this tax structure, if a person's income rises from 45,000 to $55,000, his marginal tax rate is: a. 25% Ο b. 20% Ο Ο c. 10% Ο d. 15%
Consider a tax system as follows. The tax rate for income between 0 and $1,000 is...
Consider a tax system as follows. The tax rate for income between 0 and $1,000 is 25%. Any additional income above $1,000 is taxed at 70%. Now think of an individual who makes $100 an hour and has a utility function: u(c, 100-l) = ln(c) + 2ln(100-l) (a) Compute how many hours a week would this individual work. What is the fiscal revenue? (b) Now consider a fiscal reform that lowers the highest marginal tax to 60%. What is the...
The currency in a certain country is called the sirktian. In this country's tax system, a...
The currency in a certain country is called the sirktian. In this country's tax system, a person pays O sirktions on the first 26,700 sians eamed. They then pay a fiat tax of 27% on everything over 26,700 sirians. This information is summarized in the following tax table Income in sirktians) Tax Rate 0-26,700 Over 26,700 27% 2. How many sins in taxes are owed for an individualeaming 28,500 siriana? The individual carving 28,500 sirktians owes siktians in taxes. b....
4. Below is a piecewise function, determine -5 lim,f(x)= c, lim f(x)= e. lim f(x)- d. y = sin x (not drawn to scale) explain Consider the piece of f(x) in the first quadrant resembling e. Determi...
4. Below is a piecewise function, determine -5 lim,f(x)= c, lim f(x)= e. lim f(x)- d. y = sin x (not drawn to scale) explain Consider the piece of f(x) in the first quadrant resembling e. Determine lim sinand the behavior of the graph near zero. 5. Using your graphing calculator sketch h(x)-x4-2x3 over [-2,2] below, find the critical values and on the graph label the coordinates of any local, global(absolute) minima, maxima or point of inflection on the sketch,...
report half of the income in 2017 and hall in 2018 □Mark for follow up Question...
report half of the income in 2017 and hall in 2018 □Mark for follow up Question 11 of 75 O $10,000 O $5,000 。$3,000 O $1,000 □Mark for folow up 曰 Question 12 of 75. Which of the following situations involving an exchange of business property exemplifies a fully nontaxable exchange? O Miranda traded a commercial refrigerator plus $5,000 for Patricia's commercial refrigerator O Lois exchanged a commercial sewing machine for Edwina's commercial sewing machine plus $5,000 in cash. O...
(Corporate income tax) Boisjoly Productions had taxable income of $19.1 million. a. Calculate Boisjoly's federal income...
(Corporate income tax) Boisjoly Productions had taxable income of $19.1 million. a. Calculate Boisjoly's federal income taxes by using the corporate tax rate structure in the popup window, E b. Now calculate Boisjoly's average and marginal tax rates. c. What would Boisjoly's federal income taxes be if its taxable income was $29.9 million? d. Now calculate Boisjoly's average and marginal tax rates with taxable income of $29.9 million. a. Calculate Boisjoly's federal income taxes. The total tax due is $...
Help Sev ob (5 points) $20,000 and a 25 percent tax on income between $20,000 and...
Help Sev ob (5 points) $20,000 and a 25 percent tax on income between $20,000 and $30,000 Any income above $30000 is tased at 35 percemt Instructions: Round your answers to the nearest whole number a If your income is $70,000, how much will you pay in taxes? on the first S10,000 of income, but a 15 percent tax on earnings between $10,000 and b. Determine your marginal tax rate c Determine your average tax rate 1 of 1 8...
Language C++ Write a program that can be used to calculate the federal tax. The tax...
Language C++ Write a program that can be used to calculate the federal tax. The tax is calculated as follows: For single people, the standard exemption is $4,000; for married people, the standard exemption is $7,000. A person can also put up to 6% of his or her gross income in a pension plan. The tax rates are as follows: If the taxable income is: Between $0 and $15,000, the tax rate is 15%. Between $15,001 and $40,000, the tax...
uppose a state has the following individual income tax structure. The first $20,000 that an individual earns is taxed at 5%. The next 30,000 is taxed at 10%. Any income exceeding $50,000 is taxed at 20%. Based on this tax structure, if a person's income rises from 45,000 to $55,000, his marginal tax rate is: a. 25% Ο b. 20% Ο Ο c. 10% Ο d. 15%
The currency in a certain country is called the sirktian. In this country's tax system, a person pays O sirktions on the first 26,700 sians eamed. They then pay a fiat tax of 27% on everything over 26,700 sirians. This information is summarized in the following tax table Income in sirktians) Tax Rate 0-26,700 Over 26,700 27% 2. How many sins in taxes are owed for an individualeaming 28,500 siriana? The individual carving 28,500 sirktians owes siktians in taxes. b....
4. Below is a piecewise function, determine -5 lim,f(x)= c, lim f(x)= e. lim f(x)- d. y = sin x (not drawn to scale) explain Consider the piece of f(x) in the first quadrant resembling e. Determine lim sinand the behavior of the graph near zero. 5. Using your graphing calculator sketch h(x)-x4-2x3 over [-2,2] below, find the critical values and on the graph label the coordinates of any local, global(absolute) minima, maxima or point of inflection on the sketch,...
report half of the income in 2017 and hall in 2018 □Mark for follow up Question 11 of 75 O $10,000 O $5,000 。$3,000 O $1,000 □Mark for folow up 曰 Question 12 of 75. Which of the following situations involving an exchange of business property exemplifies a fully nontaxable exchange? O Miranda traded a commercial refrigerator plus $5,000 for Patricia's commercial refrigerator O Lois exchanged a commercial sewing machine for Edwina's commercial sewing machine plus $5,000 in cash. O...
(Corporate income tax) Boisjoly Productions had taxable income of $19.1 million. a. Calculate Boisjoly's federal income taxes by using the corporate tax rate structure in the popup window, E b. Now calculate Boisjoly's average and marginal tax rates. c. What would Boisjoly's federal income taxes be if its taxable income was $29.9 million? d. Now calculate Boisjoly's average and marginal tax rates with taxable income of $29.9 million. a. Calculate Boisjoly's federal income taxes. The total tax due is $...
Help Sev ob (5 points) $20,000 and a 25 percent tax on income between $20,000 and $30,000 Any income above $30000 is tased at 35 percemt Instructions: Round your answers to the nearest whole number a If your income is $70,000, how much will you pay in taxes? on the first S10,000 of income, but a 15 percent tax on earnings between $10,000 and b. Determine your marginal tax rate c Determine your average tax rate 1 of 1 8...
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