1 Use the marginal tax rate chart to answer the question Tax Bracket Marginal Tax Rate $0 $10,275 10 $10,276 $41,175 12 $41,176 $89,075 22 $89,076 $170,050 24 $170,051 $215,950 32 $215,951 $539,900 35 $539,901 37 Determine the effective tax rate for a taxable income of $23,470 Round the final answer to the nearest hundredth A 11 12 B 12 00 C 13 49 D 15 63 2 A dog walking business earns an average yearly revenue of $165,750 Which compound inequality correctly shows the amount of money, t , the business needs each month to pay employees if the monthly budget for employee wages is between 32 and 35 A $1,020 00 t $1,115 63 B $2,040 00 t $2,231 25 C $4,080 00 t $4,4,62 50 D $4,420 00 t $4,834 38 3 The assets and liabilities of a veterinarian are listed below Home Value $490,986 Mortgage $89,100 Credit Card Balance $6,691 Owned Work Equipment $98,820 Car Value $44,186 Investments $34,417 Office Equipment Loan $214,744 What is the value of the veterinarian's liquid assets A $34,417 B $44,186 C $78,603 D $98,820 4 Use the marginal tax rate chart to answer the question Tax Bracket Marginal Tax Rate $0 $10,275 10 $10,276 $41,175 12 $41,176 $89,075 22 $89,076 $170,050 24 $170,051 $215,950 32 $215,951 $539,900 35 $539,901 37 Determine the effective tax rate for a taxable income of $75,400 Round the final answer to the nearest hundredth A 10 05 B 16 27 C 22 00 D 24 90 5 The assets and liabilities of a smoothie shop are listed below Owned Inventory $42,970 Cash $229,682 Long Term Liabilities $56,000 Building Mortgage $110,650 Savings Account $135,327 Owned Equipment $34,823 Accounts Receivable $10,265 Small Business Loan $52,495 Property Value $186,987 Other Debt $25,789 Long Term Investments $125,000 If the smoothie shop owner adds $25,000 to the small business loan to cover unexpected equipment repairs, what will be the total net worth A $495,120 B $520,120 C $545,120 D $765,054 6 The assets and liabilities of a credit union banker are listed below Car Value $29,850 Car Loan $10,560 Savings Account Balance $12,409 Treasury Bonds $10,000 Student Loans $13,824 Credit Card Balance $8,051 Checking Account Balance $19,419 Home Value $194,450 What is the total net worth if the banker pays off the student loans A $219,869 B $247,517 C $233,693 D $252,304 7 The assets and liabilities of a landscaping business are listed below Owned Inventory $30,500 Cash $75,420 Building Mortgage $154,265 Savings Account $28,000 Owned Equipment $15,670 Small Business Loan $25,652 Credit Cards $11,450 Accounts Receivable $11,560 Investments $178,925 Which balance sheet correctly shows the assets, liabilities, and net worth of the landscaping business A Assets Owned Inventory $30,500 Cash $75,420 Savings Account $28,000 Accounts Receivable $11,560 Investments $178,925 Total Assets $324,405 Liabilities Small Business Loan $25,652 Building Mortgage $154,265 Credit Cards $11,450 Owned Equipment $15,670 Total Liabilities $207,037 Net Worth $117,368 B Assets Owned Inventory $30,500 Cash $75,420 Savings Account $28,000 Owned Equipment $15,670 Investments $178,925 Total Assets $328,515 Liabilities Small Business Loan $25,652 Building Mortgage $154,265 Credit Cards $11,450 Accounts Receivable $11,560 Total Liabilities $202,927 Net Worth $125,588 C Assets Owned Inventory $30,500 Cash $75,420 Credit Cards $11,450 Savings Account $28,000 Owned Equipment $15,670 Accounts Receivable $11,560 Investments $178,925 Total Assets $351,525 Liabilities Small Business Loan $25,652 Building Mortgage $154,265 Total Liabilities $179,917 Net Worth $171,608 D Assets Owned Inventory $30,500 Cash $75,420 Savings Account $28,000 Owned Equipment $15,670 Accounts Receivable $11,560 Investments $178,925 Total Assets $340,075 Liabilities Small Business Loan $25,652 Building Mortgage $154,265 Credit Cards $11,450 Total Liabilities $191,367 Net Worth $148,708 8 A construction worker earns an average bi weekly net pay of $1,764 00 Which compound inequality correctly shows the amount of money, t , the worker can spend if the monthly budget for food is between 10 and 20 A $176 40 t $352 80 B $352 80 t $706 50 C $382 20 t $764 40 D $420 42 t $573 30

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Question: 1. Use the marginal tax rate chart to answer the question. Tax Bracket Marginal Tax Rate $0-$10,275 10% $10,276-$41,175 12% $41,176-$89,075 22% $89,076-$170,050 24% $170,051-$215,950

1. Use the marginal tax rate chart to answer the question.

Tax Bracket	Marginal Tax Rate
$0-$10,275	10%
$10,276-$41,175	12%
$41,176-$89,075	22%
$89,076-$170,050	24%
$170,051-$215,950	32%
$215,951-$539,900	35%
> $539,901	37%

Determine the effective tax rate for a taxable income of $23,470. Round the final answer to the nearest hundredth.

A. 11.12%

B. 12.00%

C. 13.49%

D. 15.63%

2. A dog walking business earns an average yearly revenue of $165,750. Which compound inequality correctly shows the amount of money, t, the business needs each month to pay employees if the monthly budget for employee wages is between 32% and 35%?

A. $1,020.00 t $1,115.63

B. $2,040.00 t $2,231.25

C. $4,080.00 t $4,4,62.50

D. $4,420.00 t $4,834.38

3. The assets and liabilities of a veterinarian are listed below.

Home Value	$490,986
Mortgage	$89,100
Credit Card Balance	$6,691
Owned Work Equipment	$98,820
Car Value	$44,186
Investments	$34,417
Office Equipment Loan	$214,744

What is the value of the veterinarian's liquid assets?

A. $34,417

B. $44,186

C. $78,603

D. $98,820

4. Use the marginal tax rate chart to answer the question.

Tax Bracket	Marginal Tax Rate
$0-$10,275	10%
$10,276-$41,175	12%
$41,176-$89,075	22%
$89,076-$170,050	24%
$170,051-$215,950	32%
$215,951-$539,900	35%
> $539,901	37%

Determine the effective tax rate for a taxable income of $75,400. Round the final answer to the nearest hundredth.

A. 10.05%

B. 16.27%

C. 22.00%

D. 24.90%

5. The assets and liabilities of a smoothie shop are listed below.

Owned Inventory	$42,970
Cash	$229,682
Long Term Liabilities	$56,000
Building Mortgage	$110,650
Savings Account	$135,327
Owned Equipment	$34,823
Accounts Receivable	$10,265
Small Business Loan	$52,495
Property Value	$186,987
Other Debt	$25,789
Long Term Investments	$125,000

If the smoothie shop owner adds $25,000 to the small business loan to cover unexpected equipment repairs, what will be the total net worth?

A. $495,120

B. $520,120

C. $545,120

D. $765,054

6. The assets and liabilities of a credit union banker are listed below.

Car Value	$29,850
Car Loan	$10,560
Savings Account Balance	$12,409
Treasury Bonds	$10,000
Student Loans	$13,824
Credit Card Balance	$8,051
Checking Account Balance	$19,419
Home Value	$194,450

What is the total net worth if the banker pays off the student loans?

A. $219,869

B. $247,517

C. $233,693

D. $252,304

7. The assets and liabilities of a landscaping business are listed below.

Owned Inventory	$30,500
Cash	$75,420
Building Mortgage	$154,265
Savings Account	$28,000
Owned Equipment	$15,670
Small Business Loan	$25,652
Credit Cards	$11,450
Accounts Receivable	$11,560
Investments	$178,925

Which balance sheet correctly shows the assets, liabilities, and net worth of the landscaping business?

Assets
Owned Inventory	$30,500
Cash	$75,420
Savings Account	$28,000
Accounts Receivable	$11,560
Investments	$178,925
Total Assets	$324,405

Liabilities
Small Business Loan	$25,652
Building Mortgage	$154,265
Credit Cards	$11,450
Owned Equipment	$15,670
Total Liabilities	$207,037

Net Worth	$117,368

Assets
Owned Inventory	$30,500
Cash	$75,420
Savings Account	$28,000
Owned Equipment	$15,670
Investments	$178,925
Total Assets	$328,515

Liabilities
Small Business Loan	$25,652
Building Mortgage	$154,265
Credit Cards	$11,450
Accounts Receivable	$11,560
Total Liabilities	$202,927

Net Worth	$125,588

Assets
Owned Inventory	$30,500
Cash	$75,420
Credit Cards	$11,450
Savings Account	$28,000
Owned Equipment	$15,670
Accounts Receivable	$11,560
Investments	$178,925
Total Assets	$351,525

Liabilities
Small Business Loan	$25,652
Building Mortgage	$154,265
Total Liabilities	$179,917

Net Worth	$171,608

Assets
Owned Inventory	$30,500
Cash	$75,420
Savings Account	$28,000
Owned Equipment	$15,670
Accounts Receivable	$11,560
Investments	$178,925
Total Assets	$340,075

Liabilities
Small Business Loan	$25,652
Building Mortgage	$154,265
Credit Cards	$11,450
Total Liabilities	$191,367

Net Worth	$148,708

8. A construction worker earns an average bi-weekly net pay of $1,764.00. Which compound inequality correctly shows the amount of money, t, the worker can spend if the monthly budget for food is between 10% and 20%?

A. $176.40 t $352.80

B. $352.80 t $706.50

C. $382.20 t $764.40

D. $420.42 t $573.30

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