Question

Mary pays income tax according to the graduated schedule shown below.
But not over-
If taxable income
is over-
The tax is:
$7,825
$31.850
$7.825
$31.850
S77.100
$77.100
$160.850
10% of the amount over SO
$782.50 plus 15% of the amount over 7,825
54,386.25 plus 25% of the amount over 31,850
$15.698.75 plus 28% of the amount over
77,100
$39.148.75 plus 33% of the amount over
160,850
$101.469.25 plus 35% of the amount over
349.700
$160.850
$349,700
$349.700
no limit
If Mary's taxable income is $68,562, how much income tax does she owe, rounded to the nearest dollar?
a. $13,564
b. $17,140
c.$21.527
d.$12.349
​

Answer 1

Answer:

a. $13,564

Step-by-step explanation:

According to the table, Mary pays $4,386.25 + 25% of the amount over $31,850.

The amount over $31,850 is ...

$68,562 -31,850 = $36,712

25% of that amount is ...

0.25×$36,712 = $9,178.00

When $4,386.25 is added to that amount, Mary's total tax due is ...

$4386.25 +9,178.00 = $13,564.25

Rounded to the nearest dollar, that is $13,564. (matches selection A)

Answer 2

Answer:

A

Step-by-step explanation:

$13,564