Question
Exhibit 11-4 Taxable IncomeTaxes $0 - $23,00015% of taxable income$23,001 - $42,000$3,450 + 20% of everything over $23,000$42,001 - $100,000$7,250 + 25% of everything over
Exhibit 11-4
Taxable IncomeTaxes$0 - $23,00015% of taxable income$23,001 - $42,000$3,450 + 20% of everything over $23,000$42,001 - $100,000$7,250 + 25% of everything over $42,000Greater than $100,000$21,750 + 30% of everything over $100,000
Refer to Exhibit 11-4.If a person's taxable income is $90,000, how much does he pay in taxes?
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Managerial Economics
Authors: Mark Hirschey
14th edition
9781473709263, 1473709261, 1473717343, 1473717345, 978-1305506381
