tammy made $20,000 in taxable income last year. suppose the income tax rate is 15% for the first $9000 plus…

tammy made $20,000 in taxable income last year. suppose the income tax rate is 15% for the first $9000 plus 18% for the amount over $9000. how much must tammy pay in income tax for last year?

tammy made $20,000 in taxable income last year. suppose the income tax rate is 15% for the first $9000 plus 18% for the amount over $9000. how much must tammy pay in income tax for last year?

Answer

Explanation:

Step1: Calculate tax for first $9000

$9000\times 0.15 = 1350$

Step2: Calculate amount over $9000

$20000 - 9000=11000$

Step3: Calculate tax for amount over $9000

$11000\times 0.18 = 1980$

Step4: Calculate total tax

$1350 + 1980=3330$

Answer:

$3330$