This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service) Married Filing Jointly Married Filing Separately Head of Household $0-$18,450 $0-$9,225 Rate Single $0-$9,225 $0-$13,150 $9,225-$37,450 $18,450-$74,900 $9,225-$37,450 $13,150-$50,200 $37,450-$90,750 $74,900-$151,200 $37,450-$75,600 $50,200-$129,600 28% $90,750-$189,300 $151,200-$230,450 $75,600-$115,225 $129,600-$209,850 33% $189,300-$411,500 $230,450-$411,500 $115,225-$205,750 $209,850-$411,500. 35% $411,500-$413,200 $411,500-$464,850 $205,750-$232,425 $411,500-$439,000 39.6% Over $413,200 Over $464,850 Over $232,425 Over $439,000 Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,225, 15% tax on the amount over $9,225 up to $37,450, and 25% on the amount over $37,450 up to $40,000. 10% 15% 25% If John had a filing status of Married Filing Separately and a taxable income of $59,906 in the year 2015, how much did he owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar. $
This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service) Married Filing Jointly Married Filing Separately Head of Household $0-$18,450 $0-$9,225 Rate Single $0-$9,225 $0-$13,150 $9,225-$37,450 $18,450-$74,900 $9,225-$37,450 $13,150-$50,200 $37,450-$90,750 $74,900-$151,200 $37,450-$75,600 $50,200-$129,600 28% $90,750-$189,300 $151,200-$230,450 $75,600-$115,225 $129,600-$209,850 33% $189,300-$411,500 $230,450-$411,500 $115,225-$205,750 $209,850-$411,500. 35% $411,500-$413,200 $411,500-$464,850 $205,750-$232,425 $411,500-$439,000 39.6% Over $413,200 Over $464,850 Over $232,425 Over $439,000 Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,225, 15% tax on the amount over $9,225 up to $37,450, and 25% on the amount over $37,450 up to $40,000. 10% 15% 25% If John had a filing status of Married Filing Separately and a taxable income of $59,906 in the year 2015, how much did he owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar. $
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:This table shows the U.S. federal income tax rates from 2015. (Source: Internal Revenue Service)
Single
Married Filing Jointly Married Filing Separately Head of Household
$0-$9,225
$0-$18,450
$0-$9,225
$0-$13,150
15% $9,225-$37,450
$18,450-$74,900
$9,225-$37,450
$13,150-$50,200
25% $37,450-$90,750 $74,900-$151,200
$37,450-$75,600
$50,200-$129,600
28% $90,750-$189,300 $151,200-$230,450
$75,600-$115,225 $129,600-$209,850
33% $189,300-$411,500 $230,450-$411,500 $115,225-$205,750 $209,850-$411,500
35% $411,500-$413,200 $411,500-$464,850
$205,750-$232,425
$411,500-$439,000
39.6% Over $413,200
Over $464,850
Over $232,425
Over $439,000
Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status
of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,225, 15% tax on the amount over $9,225 up to
$37,450, and 25% on the amount over $37,450 up to $40,000.
Rate
10%
If John had a filing status of Married Filing Separately and a taxable income of $59,906 in
the year 2015, how much did he owe for federal income tax?
Do not round any intermediate computations. Round your answer to the nearest dollar.
$
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