Question

Use the marginal tax rates in the table below to compute the tax owed in the following situation. Sarahis singles and had a taxable income of ​$35,500

Tax Rate	Single	Married Filing Separately
​10%	up to​ $8,925	up to​ $8,925
​15%	up to​ $36,250	up to​ $36,250
​25%	up to​ $87,850	up to​ $73,200
​28%	up to​ $183,250	up to​ $111,525
​33%	up to​ $398,350	up to​ $199,175
​35%	up to​ $400,000	up to​ $400,000
standard deduction	​$6100	​$6100
exemption​ (per person)	​$3900	​$3900

Answer 1

Solution:-

Here we have to find out the  tax owed.

Given as, Sarahis singles and had a taxable income of ​$35,500.

Hence, Tax owed = ($8,925 * 10%) + ( ($35500-$8926) * 15%)

= 892.5 + ($26174 * 0.15)

= $892.5 + $3926.1

= $4818.6

If, Sarahis singles and had a taxable income of ​$35,500 then, Tax owed = $4818.6.