Question

On Jan 1, the Mathews band pays $65,600 in taxes. If they receive a 15% tax deduction, how much do they owe after the deduction?

A) $55,760
B) $58,360
C) $57,760
D) $60,440

Answer 1

To find the amount owed after the tax deduction, subtract the deduction amount from the original tax payment.

Step-by-step explanation:

To calculate the amount owed after the tax deduction, you need to subtract the deduction amount from the original tax payment. In this case, the Mathews band paid $65,600 in taxes and received a 15% tax deduction. To find the deduction amount, you multiply $65,600 by 15% (or 0.15), which gives you $9,840. Then, you subtract this deduction amount from the original tax payment: $65,600 - $9,840 = $55,760. Therefore, the Mathews band owes $55,760 after the deduction.