Question

Suppose your total taxable income this year is $75,000. You are taxed at a rate of 10 percent on the first $25,000, 20 percent on the next $25,000, and 30 percent on the final $25,000. What is your total income tax?

Answer 1

15 thousand   25,000 X .10 is 2500 and 25000 x .20 is 5000 and 2500 x .30 is 7500 all together it equals 15000 your answer