Question

A certain state uses the following progressivetax rate for calculating individual income tax:Income ProgressiveRange ($)Tax Rate0 - 20002%2001 - 9000 5%9001 and up5.4%Calculate the state income tax owed on a $60,000per year salarytax = $[?]your answer to the nearest whole dollar amount.

Answer 1

Answer:

$3240

Explanation:

If the tax rate for $9001 and up is 5.4%, we can calculate the state income tax when the income is $60,000. So,

$60,000 x 5.4% = $60,000 x 5.4/100 = $3240

Therefore, the tax will be:

$3240