Question

Marlene's taxable income is $95,000. Use this tax schedule to calculate the total amount she owes in taxes.

Answer 1

`\left[\begin{array}{ccc}A.&$15,698.75\\B.&$20,710.75&CorrectAnswer\\C.&$17,900.75\\D.&$12,888.75\end{array}\right]`

If taxable income is over $77,100 but not over $160,850 , the tax is $15,698.75 plus 28 percent of the amount over 77,100

`\left[\begin{array}{ccc}95,000 - 77,100 \\= 17,900\end{array}\right]`

`\left[\begin{array}{ccc}17,900x0.28\\=5,102\end{array}\right]`

`\left[\begin{array}{ccc}5,012 + 15,698.75\\= 20,710.75\end{array}\right]`

Answer 2

I saw the tax schedule that should have been attached with this question.

Taxable income $95,000 belongs to the following range:

If taxable income is over $77,100 but not over $160,850 , the tax is $15,698.75 plus 28 percent of the amount over 77,100

95,000 - 77,100 = 17,900
17,900 * 28% = 5,012
5,012 + 15,698.75 = 20,710.75

The total amount Marlene owes in taxes is $20,710.75