Question
The tax rates are as shown below: Taxable Income Tax Rate $0 50,000 15 % 50,001 75,000 25 % 75,001 100,000 34 % 100,001 335,000
The tax rates are as shown below:
| Taxable Income | Tax Rate | |
| $0 50,000 | 15 | % |
| 50,001 75,000 | 25 | % |
| 75,001 100,000 | 34 | % |
| 100,001 335,000 | 39 | |
Your firm currently has taxable income of $81,800. How much additional tax will you owe if you increase your taxable income by $23,000?
A. $8060
B. $7680
C. $7820
D. $8970
E. $7670
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Financial Markets And Institutions
Authors: Frederic S. Mishkin
2nd Edition
0321014650, 9780321014658
