Question

Select the correct answer from each drop-down menu.
Drew is filing his tax return as single taxpayer. His taxable income is $39,000. Use the tax table provided to compute Drew's tax due and
effective tax rate.
Single Taxpayers: Income Brackets
Tax Income
Tax Owed
Rate Bracket
1096 O to 9,525 10% of taxable income
9,526 to $952.50 plus 12% of
1296
38,700 the excess over $9,525
$4,453.50 plus 22% of
2296
38,701 to
the excess over
82.500
$38,700
$14,089.50 plus 2496
82.501 to
2496
of the excess over
157.500
$82.500
$32,089.50 plus 3296
157.501 to
3296
of the excess over
200,000
$157.500
$45,689.50 plus 3596
200,001 to
3596
of the excess over
500,000
$200,000
$150,689.50 plus 3796
3796 > 500,000 of the excess over
55

Answer 1

The given tax rates are as follows:

Single Taxpayers: Income Brackets

Tax Income          Rate Bracket             Tax Owed              

O to 9,525          10%                     10% of taxable income

9,526 to38,700    12%                $952.50 plus 12% of  38,700 the excess                                                                                        over

$38,701 to 82,500  22 %                $4,453.50 plus 22% of 38,701                                                                                     the excess over

82,501 to 157,500     24%    $14,089.50 plus 24%  of the excess over

                                                                 157,500

157,501 to  200,000     32%     $ 32089.50  plus 32% of the excess over

200,001 to   500,000     35%      45,689.50 plus 35% of the excess over

500,000 >                37%         $150,689.50 plus 37% of 500,000 of the    

                                                               excess over

The taxable income lies in the tax rate range of   $38,701 to 82,500.

Therefore the tax would be  

 $4,453.50 + 22% of (39,000-38,701=299)

 $4,453.50 + 22% of 299

 $4,453.50 + 65.78

= $ 4519.28

The taxable income lies in the tax rate range of  $38,701 to 82,500.

Due and effective tax rate is $4,453.50 plus 22% of 38,701 the excess over

The calculated tax is $ 4519.28

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Answer 2

Answer:

$4,519.50 and 22%

Step-by-step explanation:

i got it right