Answer:
a. $4200
b. $32,300
c. $5814
d. $30,686
e. 2557.17
Step-by-step explanation:
a.
The man can claim all of the allowances shown in the problem statement, except the single person's allowance.
total allowances = married + young child + child in school + dependent relative
total allowances = $2400 +500 +1000 +300 = $4200
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b.
The man's taxable income is his income after allowances have been deducted:
taxable income = gross income - allowances
taxable income = $36,500 -4,200 = $32,300
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c.
The tax is found by multiplying the tax rate by the taxable income.
tax = (tax rate) ×(taxable income)
tax = 0.18 × $32,300 = $5,814
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d.
The net income is the gross income less the taxes paid.
net income = gross income - tax paid
net income = $36,500 -5,814 = $30,686
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e.
The man's net monthly salary will be 1/12 of his annual net income.
net monthly salary = $30,686/12 ≈ $2,557.17
