tommy makes $30,000 working his first part - time job after college, which puts him in the 12% marginal tax…

tommy makes $30,000 working his first part - time job after college, which puts him in the 12% marginal tax bracket. how much will tommy end up owing in taxes for the year? exactly $3600 more than $3600 tommy will owe $0 in taxes because he doesn’t make enough money less than $3600

tommy makes $30,000 working his first part - time job after college, which puts him in the 12% marginal tax bracket. how much will tommy end up owing in taxes for the year? exactly $3600 more than $3600 tommy will owe $0 in taxes because he doesn’t make enough money less than $3600

Answer

Explanation:

Step1: Identify tax - rate and income

Tax rate = 12% = 0.12, Income = $30000

Step2: Calculate tax amount

Tax amount = Tax rate×Income = 0.12×30000 $0.12\times30000 = 3600$

Answer:

A. Exactly $3600