Question

Manuel made $6000 in taxable income last year. Suppose the income tax rate is 15% for the first $8500 plus 18% for the amount over $8500. How much must Manuel pay in income tax for last year? s0 ?​

Answer 1

the income tax paid for the last year is $900

Explanation:

The computation of the income tax paid for the last year

Taxable income is $6,000

And, the 15% tax rate is charged for first $8,500

So the income tax paid is

= $6,000 × 15%

= $900

hence, the income tax paid for the last year is $900

The same is considered by doing the above calculation