Use the table to answer the questions. In relation to taxes, Ramone will be filing as married filing jointly. Ramone is making$156,141.00 this year as an employee of Rust-Eze; he has no other income. Do not consider any deductions or expenses inthis question.Married filing jointly or Married filing separSingleS0-$8,350$8,351-S33,950$33.951-$82,250| $82,251-$171,550||$171,551-$372,950|$372,951+Tax ratequalified widow(er)SO-$16,700$16,701-$67,900S67,901-$137,050$137,051-$208.850$208,851-$372,950$372,951+S0-$8,350SO-$11,950S11,951-$45,500S45,501-$117,450$117,451-$190,20010%$8,351-$33,950$33,951-S68,525S68,526-$104,425|25%28%33%35%S104,426-$186,475 $190,201-S372,950$186,476+$372,951+Use the table to calculate how much money Ramone will owe in taxes under a progressive tax program.Calculate how much money Ramone will owe in taxes under a proportional tax (flat tax) rate of 30%

Tax with marriage filling jointly can be calculated as follows.

Answered: Use the table to answer the questions.…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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