(Hint: See page 165.) Answer the following questions instead of the question above. Does a corporation pay taxes? After a corporation's taxes are paid, you are left with net income. Some of a company's net income may be paid out to shareholders as a dividend. Do shareholders pay taxes on dividends? Question 6-Tax (a): If your taxable income is the amount you see below, what is your income tax payable? And what is your effective tax rate? (for this question, ignore deductions, state taxes, etc...) 9,800 Tax Taxable income Income Tax Payable Average or Effective Tax Rate For Single Individuals Tax Size of Rate Tax Bracket Ranges Range 10% $ . to $ 9,875 $ 9,875 12% $ 9,876 to $ 40,125 $ 30,250 22% $ 40,126 to $ 85,525 $ 45,400 24% $ 85,526 to $ 163,300 $ 77,775 32% $ 163,301 to $ 207,350 $ 44,050 35% $ 207,351 to 5 518,400 $ 311,050 37% $ 518,401 and over Tax Inc is Hints 10%x 9800 12% x 0 22% 0 24% 0 $ $ Question 6-Tax (b): If your taxable income is the amount you see below, what is your income tax payable? And what is your effective tax rate? $ 19,875 Tax Inc is Hints Tax Taxable income Income Tax Payable Average or Effective Tax Rate For Single Individuals | Size of Rate Tax Bracket Ranges Range 10% $ to $ 9,875 $ 9,875 12% $ 9,876 to S40,125 S 30.250 22% $ 40,126 to $ 85,525 $ 45,400 24% $ 85,526 to $ 163,300 $ 77,775 32% $ 163,301 to $ 207,350 S 44,050 35% $ 207,351 to $ 518,400 $ 311,050 37% $ 518,401 and over 10%X 9875 12%* 10000 0 24% 0 22% $ $