Question

Steven's taxable income is $84,000. If his tax rate is 15%, how much will he owe in
taxes?

Answer 1

First determine 15% of $84 000.
Multiple 15% as a decimal by 84 000.
0.15 x 84 000 = 12 600
Add these two values together.
12 600 + 84 000 = 96 600
Therefore, he owes $12 600 in taxes, or $96 600 in total (including taxes).