In a given year, the U.S. federal income tax owed by a married couple filing jointly can be found from the following table. Married Filing Jointly Taxable Income $0-$18,550 T(x) = $18,551-$75,300 $75,301-$151,900 $413,351-$466,950 $466,951 or more (a) For incomes up to $151,900, 0.1x Tax Rate 10% $1,855 plus 15% of the amount over $18,550 $10,367.50 plus 25% of the amount over $75,300 $151,901-$231,450 $231,451-$413,350 amount over $231,450 $29,517.50 plus 28% of the amount over $151,900 $51,791.50 plus 33% of the $111,818.50 plus 35% of the amount over $413,350 $130,578.50 plus 39.6% of the amount over $466,950 write the piecewise defined function T with input x that models the federal tax dollars due as a function of x, the taxable income dollars earned. if 0 < x≤ 18,550 0.15x-927.50 if 18,550 < x≤ 75,300 0.25x-8457.50 if 75,300 < x≤151,900 (b) Use the function to find 7(70,000). $9572.5 (c) Find the tax due on a taxable income of $90,000. (d) A friend tells Jack Waddell not to earn any money over $75,300 because it will raise his tax rate to 25% on all of his taxable income. Test this statement by finding the tax due on $75,300 and $75,300 + $1. T(75,300) = $ T(75,301) = $ What do you conclude? Jack's friend is correct, his entire encome is taxed at 25%. Jack's friend is wrong, only his income above $75,300 is taxed at 25%.

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the…