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Can someone please help me with this? My answers are in purple, but I'm not even sure if I'm on the right track. Thank you!
Can someone please help me with this? My answers are in purple, but I'm not even sure if I'm on the right track. Thank you!
art 1: Hypothetical Tax Code 1 Consider a simplified version of the real tax code. Assume that the tax rate on all taxable income is 15% and the standard deduction ($6,350) and personal exemption ($4,050) still apply 1. 2. 3. 4. 5. If your total income before exemptions was $35,000, what is your taxable income? $28,650 How much would you have to pay in taxes on this income? $4,297 what percentage of your total income would you pay in taxes? 12.28% Write a function to model the total tax paid, T(x), with a total income of x dollars. How many different slopes are on this graph (below)? What do they represent? Below a graph that shows taxes paid as a function of total incom between $0 and $60,000 for the total income Taxes as a Function of Total Income 8000 7000 6000 5000 4000 3000 2000 1000 0 10000 20000 30000 40000 50000 60000 70000 Total IncomeStep by Step Solution
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