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 $80,400. How much additional tax will you owe if you increase your taxable income by $21,600?
Multiple Choice
-
$7,344
-
$7,064
-
$7,444
-
$7,054
-
$8,424
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Managerial Accounting Creating Value in a Dynamic Business Environment
Authors: Ronald W. Hilton
9th edition
78110912, 978-0078110917
