Question

Trey made $2000 in taxable income last year. suppose the income tax rate is 10% for the first $9500 plus 14% for the amount over $9500. How much must trey pay in income tax for last year?

Answer 1

SInce he made $2000 , and this is less than the limit for the first bracket, Trey will need to pay just 10% on his gain:

10% of $2000 = 0.1 * 2000 = $200.

His tax is $200.