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use the Table and example((worth 20 points very easy))Holly is filing as a single taxpayer with a taxable income of $40,300.Find her federal taxes due.

use the Table and example((worth 20 points very easy))Holly is filing as a single-example-1
User Faiza
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1 Answer

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We have to find the federal taxes that should pay Holly, a single taxpayer.

In the single table, we see that the taxes due will be given by


4,453.5+(22)/(100)\text{ of the amount above \$}38,700

The amount is $40,300, and applying the formula we obtain:


\begin{gathered} 4,453.5+(22)/(100)(40,300) \\ =4,453.5+8,866 \\ =13319.5 \end{gathered}

This means that the federal taxes due of Holly is $13,319.5.

User Justin Kestelyn
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