Can someone please help me with this? My answers are in purple, but I'm not...
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Accounting
Can someone please help me with this? My answers are in purple, but I'm not even sure if I'm on the right track. Thank you!
art 1: Hypothetical Tax Code 1 Consider a simplified version of the real tax code. Assume that the tax rate on all taxable income is 15% and the standard deduction ($6,350) and personal exemption ($4,050) still apply 1. 2. 3. 4. 5. If your total income before exemptions was $35,000, what is your taxable income? $28,650 How much would you have to pay in taxes on this income? $4,297 what percentage of your total income would you pay in taxes? 12.28% Write a function to model the total tax paid, T(x), with a total income of x dollars. How many different slopes are on this graph (below)? What do they represent? Below a graph that shows taxes paid as a function of total incom between $0 and $60,000 for the total income Taxes as a Function of Total Income 8000 7000 6000 5000 4000 3000 2000 1000 0 10000 20000 30000 40000 50000 60000 70000 Total Income
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