Many of the following problems can be modeled with a linear equation. Analyze them and identify what quantities the variables x and y represent. The information provided in the problems is adequate to determine a point and a slope or two points on the line.
The IRS Form 1040 for 2010 shows for a married couple filing jointly that the income tax on a taxable income in the $16,751– $68,000 range is $1075 plus 15% of the taxable income over $16,751. Let x be the taxable income and y the tax paid. Write the linear equation relating taxable income and tax in that income range.
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