If Your Taxable But The Tax Of the Income Not You Amount Is Over Over Owe Is Over $ 8500 $ 34,500 $ 83,600 $ 10% 2$ $ 8500 $ 34,500 $ 83,600 $ 8500 $ 34,500 $ 83,600 $ 850.00 + 15% $ 4750.00 + 25% $ 17,025.00 + 28% $ 42,449.00 + 33% $174,400 $174,400 $379,150 $174,400 $379,150 $110,016.50 + 35% $379,150 0 379,150.
If Your Taxable But The Tax Of the Income Not You Amount Is Over Over Owe Is Over $ 8500 $ 34,500 $ 83,600 $ 10% 2$ $ 8500 $ 34,500 $ 83,600 $ 8500 $ 34,500 $ 83,600 $ 850.00 + 15% $ 4750.00 + 25% $ 17,025.00 + 28% $ 42,449.00 + 33% $174,400 $174,400 $379,150 $174,400 $379,150 $110,016.50 + 35% $379,150 0 379,150.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Here is the Federal Tax Rate Schedule X (see attached) that specifies the tax owed by a single taxpayer for a recent year.
The given tax table can be modeled by a piecewise function (see attached), where x represents the taxable income of a single taxpayer and T(x) is the tax owed.
Then Find and interpret T(20,000).
Transcribed Image Text:If Your
Taxable
But
The Tax
Of the
Income
Not
You
Amount
Is Over
Over
Owe Is
Over
$ 8500
$ 34,500
$ 83,600
$
10%
2$
$ 8500
$ 34,500
$ 83,600
$ 8500
$ 34,500
$ 83,600
$
850.00 + 15%
$ 4750.00 + 25%
$ 17,025.00 + 28%
$ 42,449.00 + 33%
$174,400
$174,400
$379,150
$174,400
$379,150
$110,016.50 + 35%
$379,150
Transcribed Image Text:0 <xs 8500
8500 <xs 34,500
4750.00 + 0.25(x – 34,500) if 34,500 <xs 83,600
0.10x
if
850.00 + 0.15(x - 8500)
if
T(x) =
17,025.00 + 0.28(x – 83,600) if 83,600 < xs 174,400
if 174,400 < x s 379,150
?
?
if
x> 379,150.
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