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Problem 1-52 (LO 1-5) (Algo) Given the following tax structure: Taxpayer Salary Total tax Mae $ 23,000 $ 1,035 Pedro $ 44,000 ??? Required: What
Problem 1-52 (LO 1-5) (Algo)
Given the following tax structure:
Taxpayer | Salary | Total tax |
---|---|---|
Mae | $ 23,000 | $ 1,035 |
Pedro | $ 44,000 | ??? |
Required:
- What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?
Note: Round your final answer to nearest whole dollar amount.
- This would result in what type of tax rate structure?
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