80.2K
Verified Solution
Link Copied!
Jean Paul wondered what his tax liability would be for the following taxable incomes:
Bracket | | Tax Rate |
$0 - $10,000 | | 15% |
$10,000 - $50,000 | | 25% |
$50,000 - $250,000 | | 30% |
over $250,000 | | 35% |
Compute the tax liability for each of the following taxable income amounts. Round the answers to 2 decimal places.
Taxable income of $49,000
Taxable income of $150,000
Taxable income of $450,000
Answer & Explanation
Solved by verified expert