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Your firm currently has taxable income of $80,000. How much additional tax will you owe if you increase your taxable income by $21,200? $8,268 $7,268

Your firm currently has taxable income of $80,000. How much additional tax will you owe if you increase your taxable income by $21,200?

$8,268

$7,268

$6,888

$6,878

$7,208

$35,745

(Not sure if the tax rates have anything to do with this problem or my previous problem so I'm inserting it just incase. If it is needed then it goes with this problem)

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 %

Please show how you got the answer not just the answer. Thank you

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