if the federal government used the progressive tax rate below for individual income tax, complete the table…

if the federal government used the progressive tax rate below for individual income tax, complete the table to calculate the federal income tax owed on a $56,100 salary ($43,900 in taxable income).\n| standard deduction ($) | 12,200 |\n| income range ($) | progressive tax rate | taxable income ($) | income tax owed ($) |\n| 0 - 9,700 | 10% | 9,700 | 970.00 |\n| 9,701 - 39,475 | 12% | 29,775 | 3,573.00 |\n| 39,476 - 84,200 | 22% | 4,425 |? |\n| 84,201 - 160,275 | 24% | | |\n| 160,276+ | 32% | | |\n| total | | 43,900 | |

if the federal government used the progressive tax rate below for individual income tax, complete the table to calculate the federal income tax owed on a $56,100 salary ($43,900 in taxable income).\n| standard deduction ($) | 12,200 |\n| income range ($) | progressive tax rate | taxable income ($) | income tax owed ($) |\n| 0 - 9,700 | 10% | 9,700 | 970.00 |\n| 9,701 - 39,475 | 12% | 29,775 | 3,573.00 |\n| 39,476 - 84,200 | 22% | 4,425 |? |\n| 84,201 - 160,275 | 24% | | |\n| 160,276+ | 32% | | |\n| total | | 43,900 | |

Answer

Explanation:

Step1: Identify the applicable tax - rate for the remaining taxable income

The taxable income is $43,900$. The first $9,700$ is taxed at 10% and the amount from $9,701$ to $39,475$ is taxed at 12%. The remaining taxable income is $43,900 - 39,475=4,425$, which is taxed at 22%.

Step2: Calculate the tax on the remaining taxable income

The tax on the $4,425$ amount (taxed at 22%) is calculated as $4,425\times0.22$. $4,425\times0.22 = 973.5$

Step3: Calculate the total tax

The total tax is the sum of the tax on each income - range. The tax on the first $9,700$ is $970$, the tax on the amount from $9,701$ to $39,475$ is $3,573$, and the tax on the remaining $4,425$ is $973.5$. The total tax $T=970 + 3,573+973.5=5,516.5$

Answer:

$973.5$ (for the value in the green - box) and $5,516.5$ (for the total income tax owed)