Question

Peter made a total of $14,350 working during the summer at a snow cone stand. The income tax Peter must pay is 5%. What is the amount of income tax in dollars and cents that Peter will have to pay? Responses A $1,148.00$1,148.00 B $143.50$143.50 C $700.00$700.00 D $717.50

Answer 1

Answer: $717.50

Explanation:

To calculate the income tax that Peter must pay, we need to multiply his total income by the tax rate of 5%.

The amount of income tax that Peter will have to pay is:

$14,350 x 0.05 = $717.50

Therefore, Peter will have to pay $717.50 in income tax.