F1 Connect Problem CP 20-6 (algo) Suppose that Carson earns $50,000 per year but must pay...

 

Transcribed Image Text:

F1 Connect Problem CP 20-6 (algo) Suppose that Carson earns $50,000 per year but must pay income taxes according to the tax schedule as shown below. Income $0 to $7,000 $7,000 to $38,000 $38,000 to $75,000 $75,000 to $142,000 Over $142,000 Instructions: Round your answers to the nearest whole number. a. According to this table, what type of income tax does Carson face? (Click to select) b. Assume that Carson has no tax exemptions or deductions. How much in income taxes must Carson pay? @ 2 What is Carson's marginal tax rate? Tax Rate(%) 10 15 25 30 40 percent F2 What is his average tax rate? percent #3 80 W E F3 $ 54 000 888 4 F4 R % 5 YOU $ FS < Prev T MacBook Air <6 6 of 14 9 Y 44 & 7 57 Next > U ➤11 * ∞ 8 FB 9 O 0 F1 Connect Problem CP 20-6 (algo) Suppose that Carson earns $50,000 per year but must pay income taxes according to the tax schedule as shown below. Income $0 to $7,000 $7,000 to $38,000 $38,000 to $75,000 $75,000 to $142,000 Over $142,000 Instructions: Round your answers to the nearest whole number. a. According to this table, what type of income tax does Carson face? (Click to select) b. Assume that Carson has no tax exemptions or deductions. How much in income taxes must Carson pay? @ 2 What is Carson's marginal tax rate? Tax Rate(%) 10 15 25 30 40 percent F2 What is his average tax rate? percent #3 80 W E F3 $ 54 000 888 4 F4 R % 5 YOU $ FS < Prev T MacBook Air <6 6 of 14 9 Y 44 & 7 57 Next > U ➤11 * ∞ 8 FB 9 O 0

Answer rating: 100% (QA)

ANSWER A the percentage of tax rate continue to incr... View the full answer