Pictures of tax rates posted

If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9.700 $ 39,475 $ 84,200 S4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14.382.50 plus 24% of the excess over $84.200 $160,725 $204.100 $32.748.50 plus 32% of the excess over $160.725 $204,100 $510,300 $46.628.50 plus 35% of the excess over $204.100 $510,300 $153.798.50 plus 37% of the excess over $510,300 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over: But not over: The tax is: $ 0 $ 19,400 10% of taxable income $ 19,400 $ 78,950 $1.940 plus 12% of the excess over $19.400 $ 78,950 $168,400 $9.086 plus 22% of the excess over $78.950 $168,400 $321,450 $28,765 plus 24% of the excess over $168.400 $321,450 $408.200 565,497 plus 32% of the excess over $321.450 $408.200 $612,350 $93.257 plus 35% of the excess over $408.200 $612,350 $164.709.50 plus 37% of the excess over $612,350 Schedule Z-Head of Household If taxable income is over: But not over: The tax is: $ 0 $ 13,850 10% of taxable income $ 13,850 $ 52,850 $1,385 plus 12% of the excess over $13.850 $ 52,850 $ 84,200 $6.065 plus 22% of the excess over $52.850 $ 84,200 $160,700 $12.962 plus 24% of the excess over $84.200 $160,700 $204,100 $31,322 plus 32% of the excess over $160.700 $204.100 $510,300 $45,210 plus 35% of the excess over $204,100 $510,300 $152,380 plus 37% of the excess over $510,300 Schedule Y-2-Married Filing Separately If taxable income is over: But not over: The tax is: $ 0 $ 9,700 10% of taxable income $ 9,700 $ 39,475 $970 plus 12% of the excess over $9,700 $ 39,475 $ 84,200 S4,543 plus 22% of the excess over $39,475 $ 84,200 $160,725 $14.382.50 plus 24% of the excess over $84.200 $160,725 $204,100 S32,748.50 plus 32% of the excess over $160.725 $204,100 $306,175 $46.628.50 plus 35% of the excess over $204.100 $306,175 $82,354.75 plus 37% of the excess over $306,175 Problem 7-39 (LO 7-1) Hayley recently invested $43,000 in a public utility stock paying a 3 percent annual dividend. (Hayley's marginal income tax rate is 32 percent and preferential tax rate is 15 percent.) Use Tax Rate Schedule, Dividends and Capital Gains Tax Rates for reference. Required: a. If Hayley reinvests the annual dividend she receives net of any taxes owed on the dividend, how much will her investment be worth in six years if the dividends paid are qualified dividends? b. What will her investment be worth in six years if the dividends are nonqualified? (For all requirements, do not round intermediate calculations and round your final answers to the nearest whole dollar amount.) a Investment worth when dividends are qualified Investment worth when dividends are nonqualified b. Tax Rates for Net Capital Gains and Qualified Dividends Taxable Income Rate* Married Filing Jointly Married Filing Separately Single Head of Household Trusts and Estates 0% $0 - $78,750 $0 - $39,375 $0 - $39,375 SO - $52,750 SO - $2.650 15% $78,751 - $488,850 $39,376 - $244,425 $39,376 - $434.550 $52,751 - $461,700 $2.651 - $12.950 20% $488,851+ $244,426+ $434,551+ $461,701+ $12.951+ *This rate applies to the net capital gains and qualified dividends that fall within the range of taxable income specified in the table (net capital gains and qualified dividends are included in taxable income last for this purpose)