FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What is the average Federal income tax rate in 2020 of an individual who earns $130,000 of taxable income? Refer to the following chart. Federal

image text in transcribed

What is the average Federal income tax rate in 2020 of an individual who earns $130,000 of taxable income? Refer to the following chart. Federal 2020 Income Tax Brackets and Rates Federal Tax 2020 Taxable Income Rate 15% 20.5% 26% A 20.34% B 19.34% C 19.84% D 20.54% Up to $48,535 Over $48,535 up to $97,069 Over $97,069 up to $150,473

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance Markets Investments And Financial Management

Finance Markets Investments And Financial Management

Authors: Daisy Scott

1st Edition

1639892001, 9781639892006

More Books

Students also viewed these Finance questions

Question

★★★★★
Consider two concentric conducting spheres (Figure). The outer sphere is hollow and initially has a charge ?7Q deposited on it. The inner sphere is solid and has a charge +2Q on it. (a) How is the...

Answered: 1 week ago

Question

★★★★★
Are there things in your design that act the same but look different? Make sure that things that act the same look the same.

Answered: 1 week ago

Question

★★★★★
A triangle can be formed by drawing line segments on a map of Minnesota connecting the cities of Austin, Rochester, and St. Paul (see figure below). If the actual distance from Austin to Rochester is...

Answered: 1 week ago

Question

★★★★★
Winston Company estimates that the factory overhead for the following year will be $1,230,900. The company has decided that the basis for applying factory overhead should be machine hours, which is...

Answered: 1 week ago

Question

★★★★★
There are 400 rms in the same industry which each currently emit 8 Mt CO2 per year. The government imposes a cap and trade program for the industry, and sets the cap at 2000 Mt CO2 per year. Total...

Answered: 1 week ago

Question

★★★★★
4. You've recommended to your team lead that you should move forward with the re-launch. You have a key customer that was impacted by the miss-launch a few months ago and you're meeting with them to...

Answered: 1 week ago

Question

★★★★★
In a neighborhood, 35% of homes have a security system. As a security system salesperson, you want to know how many houses need to be visited before you find 10 houses without a system. 83 62 21 98...

Answered: 1 week ago

Question

★★★★★
Consider the system of equations: 2 x ^ 2 - 3 and + With = 1 2 3 x ^ 3 + 2 and = 2 5 4 x ^ 2 - 2 and ^ 2 + With = 1 8 Write a MATLAB script to find numerical solutions to this system of equations...

Answered: 1 week ago

Question

★★★★★
The following table shows the daily receipts in millions of dollars of the movie "Avatar" for successive Fridays after its opening on Friday 18 December 2009. Weeks $Receipts 0 77.025 2 68.49 4...

Answered: 1 week ago

Question

★★★★★
6. A charge Q is at the centre of a tetrahedron. What is the electric flux through one face of the tetrahedron?

Answered: 1 week ago

Question

★★★★★
3. Can you think of a situation where employment of married couples would create problems for a firm? Explain your answer.

Answered: 1 week ago

Question

★★★★★
2. Many of the Top Small Workplace managers report that they invest more in training, recognition awards, and incentive programs than competing firms. They say these investments result in reduced...

Answered: 1 week ago

Question

★★★★★
Explain how to reward individual and team performance.

Answered: 1 week ago

Previous Question Next Question