you earn $50,000 per year before taxes. your entire income is taxed at the 10 percent federal tax bracket…

you earn $50,000 per year before taxes. your entire income is taxed at the 10 percent federal tax bracket. which value reflects your net income?\n\n$5,000\n$10,000\n$45,000\n$50,000

you earn $50,000 per year before taxes. your entire income is taxed at the 10 percent federal tax bracket. which value reflects your net income?\n\n$5,000\n$10,000\n$45,000\n$50,000

Answer

Explanation:

Step1: Identify gross income and tax rate

The gross income is $$50,000$ and the tax rate is $10%$.

Step2: Calculate the total tax amount

Multiply the gross income by the tax rate. $$ \text{Tax} = $50,000 \times 0.10 = $5,000 $$

Step3: Calculate the net income

Subtract the tax amount from the gross income. $$ \text{Net Income} = $50,000 - $5,000 = $45,000 $$

Answer:

$45,000