Answer:
The income tax of $12840 is $1300.
Explanation:
Given:
$12840
Using the rates of the table to calculate the income tax of the taxable income.
Now, to calculate the income tax from the given table:
Over But not over Tax Rate
10,000 _ $530 plus 6% of amount over $10000.
So, as given in question the amount $12840 comes in the above table of taxable income.
According to question:
$530 + 6% of $12840




So, the income tax = $1300(approximately).
Therefore, the income tax of $12840 is $1300.