A perfume is sold at Target Canada for $79.99 plus HST (13%). The same perfume is...

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A perfume is sold at Target Canada for $79.99 plus HST (13%). The same perfume is sold at Target USA for $74.99 plus 8% Value Added Tax (VAT). By what percentage (based on Canadian price) is perfume cheaper in the United States? Use the exchange rate of US$0.966 per C$. (2 marks) Use the 2010 federal income tax brackets and rates shown in the table to answer the following question. a) Dana had a taxable income of $150,200 in 2010. How much federal income tax should she report? (assuming tax rates remain the same) (2 marks) b) Dana expects her taxable income to increase by 5% in 2011. How much federal tax would she expect to pay in 2011? (assuming tax rates remain the same) (2 marks) I Taxable income $0.00 $40,970.00 $40,970.01 $81,940.00 $81,940.01 - $127,020.00 $127,020.01 and up Example Tax rate 5% 22% 26% 29% A perfume is sold at Target Canada for $79.99 plus HST (13%). The same perfume is sold at Target USA for $74.99 plus 8% Value Added Tax (VAT). By what percentage (based on Canadian price) is perfume cheaper in the United States? Use the exchange rate of US$0.966 per C$. (2 marks) Use the 2010 federal income tax brackets and rates shown in the table to answer the following question. a) Dana had a taxable income of $150,200 in 2010. How much federal income tax should she report? (assuming tax rates remain the same) (2 marks) b) Dana expects her taxable income to increase by 5% in 2011. How much federal tax would she expect to pay in 2011? (assuming tax rates remain the same) (2 marks) I Taxable income $0.00 $40,970.00 $40,970.01 $81,940.00 $81,940.01 - $127,020.00 $127,020.01 and up Example Tax rate 5% 22% 26% 29%

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To calculate the percentage by which the perfume is cheaper in the United States compared t... View the full answer