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3 The tax rates are as shown below; Taxable Income $0 50,000 50,001 - 75,000 75,001 100,000 100,001 - 335,000 Tax Rate 15% 25% 34%
3 The tax rates are as shown below; Taxable Income $0 50,000 50,001 - 75,000 75,001 100,000 100,001 - 335,000 Tax Rate 15% 25% 34% 39% Your firm currently has taxable income of $81,400. How much additional tax will you owe if you increase your taxable income by $22,600?
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