A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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This table shows the U.S. federal income tax rates from 2013. (Source: Internal Revenue Service)
Rate
Single
Married Filing Jointly Married Filing Separately
Head of Household
10%
$0-$8,925
$0-$17,850
$0-$8,925
$0-$12,750
15%
$8,925-$36,250
$17,850-$72,500
$8,925-$36,250
$12,750-$48,600
25%
$36,250-$87,850
$72,500-$146,400
$36,250-$73,200
$48,600-$125,450
28%
$87,850-$183,250
$146,400-$223,050 $73,200-$111,525
$125,450-$203,150
33%
$183,250-$398,350 $223,050-$398,350 $111,525-$199,175
$203,150-$398,350
35% $398,350-$400,000 $398,350-$450,000 | $199,175-$225,000
$398,350-$425,000
39.6% Over $400,000
Over $450,000
Over $225,000
Over $425,000
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 $8,925, 15% tax on the amount over $8,925 up to
$36,250, and 25% on the amount over $36,250 up to $40,000.
If Kaitlin had a filing status of Head of Household and a taxable income of $116,319 in the
year 2013, how much did she owe for federal income tax?
Do not round any intermediate computations. Round your answer to the nearest dollar.
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Transcribed Image Text:This table shows the U.S. federal income tax rates from 2013. (Source: Internal Revenue Service) Rate Single Married Filing Jointly Married Filing Separately Head of Household 10% $0-$8,925 $0-$17,850 $0-$8,925 $0-$12,750 15% $8,925-$36,250 $17,850-$72,500 $8,925-$36,250 $12,750-$48,600 25% $36,250-$87,850 $72,500-$146,400 $36,250-$73,200 $48,600-$125,450 28% $87,850-$183,250 $146,400-$223,050 $73,200-$111,525 $125,450-$203,150 33% $183,250-$398,350 $223,050-$398,350 $111,525-$199,175 $203,150-$398,350 35% $398,350-$400,000 $398,350-$450,000 | $199,175-$225,000 $398,350-$425,000 39.6% Over $400,000 Over $450,000 Over $225,000 Over $425,000 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 $8,925, 15% tax on the amount over $8,925 up to $36,250, and 25% on the amount over $36,250 up to $40,000. If Kaitlin had a filing status of Head of Household and a taxable income of $116,319 in the year 2013, how much did she owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar.
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