A provinces progressive income tax rates are structured as follows: 16% tax on the first $15,000 of

Question:

A province’s progressive income tax rates are structured as follows: 16% tax on the first $15,000 of taxable income, 26% on the next $20,000, 35% on the next $40,000, and 45% on any additional taxable income. What percentage is an individual’s total income tax of his (taxable) income if his taxable income for a year is:
a. $33,000?
b. $66,000?
c. $99,000?
Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: