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Seb's salary is $ X per year. The tax system is such that Seb pays a 1 5 % flat rate of income tax on
Seb's salary is
$
X
per year. The tax system is such that Seb pays a
flat rate of income tax on his salary. The tax system is due for reform, and politicians have suggested the following:
Any income under
$
should be taxfree.
Anything above
$
should be taxed at
Given that Seb will be paying
$
more under the new system, calculate how much tax Seb pays under the current system. You can assume that
X
$
Round your answer to the nearest dollar.
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