select the correct answer.\nif taxable income is over-- but not over-- the tax is:\n$0 $7,825 10 percent of…

select the correct answer.\nif taxable income is over-- but not over-- the tax is:\n$0 $7,825 10 percent of the amount over $0\n$7,825 $31,850 $782.50 plus 15 percent of the amount over 7,825\n$31,850 $77,100 $4,386.25 plus 25 percent of the amount over 31,850\n$77,100 $160,850 $15,698.75 plus 28 percent of the amount over 77,100\n$160,850 $349,700 $39,148.75 plus 33 percent of the amount over 160,850\n$349,700 no limit $101,469.25 plus 35 percent of the amount over 349,700\nuse this tax table to find how much tax you need to pay on a taxable income of $25,000.\na. $2,576.25\nb. $3,358.75\nc. $5,934.25

select the correct answer.\nif taxable income is over-- but not over-- the tax is:\n$0 $7,825 10 percent of the amount over $0\n$7,825 $31,850 $782.50 plus 15 percent of the amount over 7,825\n$31,850 $77,100 $4,386.25 plus 25 percent of the amount over 31,850\n$77,100 $160,850 $15,698.75 plus 28 percent of the amount over 77,100\n$160,850 $349,700 $39,148.75 plus 33 percent of the amount over 160,850\n$349,700 no limit $101,469.25 plus 35 percent of the amount over 349,700\nuse this tax table to find how much tax you need to pay on a taxable income of $25,000.\na. $2,576.25\nb. $3,358.75\nc. $5,934.25

Answer

Explanation:

Step1: Identify the income - tax bracket

The taxable income is $25,000. Since $7,825<25,000 < 31,850$, we use the second - row tax formula: $782.50$ plus $15$ percent of the amount over $7,825$.

Step2: Calculate the amount over $7,825$

The amount over $7,825$ is $25000 - 7825=17175$.

Step3: Calculate the 15% of the amount over $7,825$

$15%$ of $17175$ is $0.15\times17175 = 2576.25$.

Step4: Calculate the total tax

The total tax is $782.50+2576.25 = 3358.75$.

Answer:

B. $3,358.75$