Dave has received a promotion, and his yearly salary will rise by $20,000. (He used to earn $95,000.) He is unsure about his additional budget since he doesn't know how much of the raise he should pay in tax. Dave wants to invest $11,000 of his first-year raise and upgrade his backyard with the rest. How much can he spend in the backyard? (round to nearest dollar) Consider the following tax brackets: Rate 20% 25% Answer: $2,500 (4500) Income Bracket $75,000-$105.000 $105,000-$150,000