This Question: 1 pt 1 of 3 This Quiz: 3 pts possible Use the table to the right

Question

This Question: 1 pt 1 of 3 This Quiz: 3 pts possible Use the table to the right to calculate the If your taxable federal income tax due for a taxable income income is of $278,000 But not | Over-_ Overs59275 of the amount Over S0 $9.275 $37,650 $91,150 546 278 75 + 33% $190 150 119.934 75 + 35%) $413.3501 The tax is S9 275 $37,650 $37,650 $91,150 10 $927.50+15 $5,183.75 +25 91,150 $190,150 $18,558.75+28 $150 150 $413,350 $413.350 The income tax due is $ (Type an integer or a decimal.) Enter your answer in the answer box

Explanation / Answer

Ans: Tax liability will fall under the slab of 33%

So, Income Tax Due= $46278.75+33% x (278000-190150)

                             = $75269.25

                                 

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.