Suppose there is a 20% tax on the first $15,000 of taxable income, a 30% tax on
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Suppose there is a 20% tax on the first $15,000 of taxable income, a 30% tax on taxable income above $15,000 until $30,000, and a 40% tax on all taxable income above $30,000. Suppose an individual has taxable income equal to $35,000. Assume no tax credits. How much does this individual owe in taxes?
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
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