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Hasan Restaurant Group is a sole proprietorship that has taxable income of $147,200. Based on the partial individual tax schedule shown below, how much additional
Hasan Restaurant Group is a sole proprietorship that has taxable income of $147,200. Based on the partial individual tax schedule shown below, how much additional tax will be owed if the taxable income increases by $12,800? Assume this is the sole source of income for the owner.
Taxable Income | Tax Rate |
---|---|
$0 9,950 | 10% |
9,950 40,525 | 12 |
40,525 86,375 | 22 |
86,375 164,925 | 24 |
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