Susan made $$ 25, 000$ in taxable income last year.
Suppose the income tax rate is $10 %$ for the first $$ 8000$ plus $14 %$ for the amount over $$ 8000$ .
How much must Susan pay in income tax for last year?

Answer

Expert–verified

Hide Steps

Answer

$$ 3180$

Steps

Step 1 ：Susan made $$ 25, 000$ in taxable income last year.

Step 2 ：Suppose the income tax rate is $10 %$ for the first $$ 8000$ plus $14 %$ for the amount over $$ 8000$ .

Step 3 ：To find out how much Susan must pay in income tax for last year, we need to calculate the tax for the first $$ 8000$ and the tax for the remaining amount over $$ 8000$ . Then, we will add both tax amounts to get the total income tax.

Step 4 ：Tax for the first $$ 8000$ is $8000 * 0.10 = $ 800$ .

Step 5 ：Tax for the remaining amount over $$ 8000$ is $(25000 - 8000) * 0.14 = $ 2380$ .

Step 6 ：Adding both tax amounts, we get the total income tax: $800 + 2380 = $ 3180$ .

Step 7 ： $$ 3180$

Susan made $25,000 in taxable income last year.Suppose the income tax rate is 10% for the first $8000 plus 14% for the amount over $8000.How much must Susan pay in income tax for last year?

Answer

Popular Problems

Susan made $$ 25, 000$ in taxable income last year.
Suppose the income tax rate is $10 %$ for the first $$ 8000$ plus $14 %$ for the amount over $$ 8000$ .
How much must Susan pay in income tax for last year?