a certain state uses the progressive tax rate below for calculating individual income tax. calculate the…

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $50,000 per year salary.\nincome range ($)\tprogressive tax rate\n0 - 26,000\t1%\n26,001 - 46,000\t3%\n46,001+\t4%\ntax = $?

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $50,000 per year salary.\nincome range ($)\tprogressive tax rate\n0 - 26,000\t1%\n26,001 - 46,000\t3%\n46,001+\t4%\ntax = $?

Answer

Explanation:

Step1: Calculate tax for 0 - 26000 range

$26000\times 0.01=260$

Step2: Calculate tax for 26001 - 46000 range

The amount in this range is $46000 - 26000=20000$. The tax is $20000\times0.03 = 600$

Step3: Calculate tax for 46001 - 50000 range

The amount in this range is $50000 - 46000 = 4000$. The tax is $4000\times0.04=160$

Step4: Sum up the taxes

$260 + 600+160=1020$

Answer:

$1020$