Question
3. The following table shows the federal income tax owed by a single taxpayer for the given level of taxable income for 2015. Both are
3. The following table shows the federal income tax owed by a single taxpayer for the given level of taxable income for 2015. Both are measured in dollars.
Taxable Income 97000 97050 97100 97150 97200 97250 97300 Tax Owed 20238 20252 20266 20280 20294 20308 20372 a) Show that, over the range of taxable income shown in the table, the tax owed is a linear function of taxable income. b) What tax do you owe if you have a taxable income of 97150? c) How much additional tax is due on each dollar of taxable income over 97000? d) Let A denote the amount (dollars) of your taxable income in excess of $97000 and T the tax (in dollars) you owe. Find a linear formula that gives T in terms of A. (15)
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