Seb's salary is $X per year. The tax system is such that Seb pays a 15%...

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Seb's salary is $X per year. The tax system is such that Seb pays a 15% flat rate of income tax on his salary. The tax system is due for reform, and politicians have suggested the following: 1. Any income under $12,000 should be tax free. 2. Anything above $12,000 should be taxed at 25%. Given that Seb will be paying $1,500 more under the new system, calculate X. You can assume that X > $12,000. Round your answer to the nearest dollar. Seb's salary is $X per year. The tax system is such that Seb pays a 15% flat rate of income tax on his salary. The tax system is due for reform, and politicians have suggested the following: 1. Any income under $12,000 should be tax free. 2. Anything above $12,000 should be taxed at 25%. Given that Seb will be paying $1,500 more under the new system, calculate X. You can assume that X > $12,000. Round your answer to the nearest dollar.

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Lets break down the problem and solve it step by step 1 Calculate the tax under the current system S... View the full answer