Question

James is a journalist with an annual income of $85,350. James has to pay an income tax of 8%. What is the amount of income tax in dollars and cents that James has to pay? 7.13A

Answer 1

Answer: $6828

Explanation:

James annual income = $85350

Income tax = 8%

The amount of income tax in dollars and cents that James has to pay will be calculated by multiplying the income tax by his annual income. This will be:

= 8% × $85350

= 8/100 × $85350

= 0.08 × $85350

= $6828