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The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s
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The state tax Patrick must pay on the initial profit is . The federal tax he must pay on the initial profit is . The inflation on the amount remaining after taxes is . As a result, the real value of Patrick’s profit is

User Segfault
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3 votes

Answer:

The state tax Patrick must pay on the initial profit is

✔ $346.25

.

The federal tax he must pay on the initial profit is

✔ $1,731.25

.

The inflation on the amount remaining after taxes is

✔ $145.43

.

As a result, the real value of Patrick’s profit in whole dollars is

✔ $4,702

.

Step-by-step explanation:

User Sbp
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