Respuesta :
Answer:
$13564
Step-by-step explanation:
[tex]\left|\begin{array}{c|c|c}$If taxable&& \\$income&&\\$ is over&$but not over&$the tax is\\---&---&---\\$0 &7,825 &$10\% of the amount over 0\\7,825 &31,850 &$782.50 plus $15\% $ of the amount over 7,825$ \end{array}\right|[/tex][tex]\left|\begin{array}{c|c|c}31,850 &77,100 &$4,386.25 plus 25\% of the amount over 31,850 \\77,100 &160,850 &$15,698.75 plus 28\% of the amount over 77,100\end{array}\right|[/tex]
[tex]\left|\begin{array}{c|c|c}160,850 &349,700 &$39,148.75 plus 33\% of the amount over 160,850 \\349,700 &$no limit&$101,469.25 plus 35\% of the amount over 349,700\end{array}\right|[/tex]
Mary’s taxable income= $68,562
From the table, If taxable income is over $31,850 but not over $77,100
The tax = $4386.25 + 25% of the amount over 31,850
Amount over $31,850=$68,562-$31,850
=$36,712
Therefore:
Mary's tax = $4386.25 + (25% of $36,712)
=$4386.25 +9,178
=$13564.25
=$13564 (to the nearest dollar)
Income tax is the tax charged on individual's or entities' income
Mary owes $13564 income tax
Given that the taxable income is $68,562.
Using the table as a guide, $68,562 falls within the income range $31,850 - $77,100
So, the tax is $4386 added to 25% of the excess over $31850
This is calculated as:
[tex]Tax = \$4386 + 25\% \times (Income -\$31850)[/tex]
Substitute $68,562 for income
[tex]Tax = \$4386 + 25\% \times (\$68562 -\$31850)[/tex]
Solve the expression in the bracket
[tex]Tax = \$4386 + 25\% \times \$36712[/tex]
Evaluate the product
[tex]Tax = \$4386 + \$9178[/tex]
Add the terms of the expression
[tex]Tax = \$13564[/tex]
Hence, Mary owes $13564 income tax
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