Question

question 3
on taxable income | the tax rate
up to $7,150 | 10%
from $7,150 to $29,050 | 15%
from $29,050 to $70,350 | 25%
from $70,350 to $146,750 | 28%
from $146,750 to $319,100 | 33%
over $319,100 | 35%
if morgan has $29,050 in taxable income, her tax liability will be...
2905
3285
4000
4357.5

Explanation:

Step1: Calculate tax on first bracket

$\$7,150 \times 10\% = \$715$

Step2: Calculate tax on second bracket

$(\$29,050 - \$7,150) \times 15\% = \$21,900 \times 0.15 = \$3,285$

Step3: Sum the two tax amounts

$\$715 + \$3,285 = \$4,000$

Answer:

4000