A single person with a taxable income of $172960 will have the first $9,525 of that income taxed at a different rate than the income between $9,525 and $38,700. The first bracket is taxed at 10%, the second is taxed at 12% Determine the taxes owed on just the second bracket.

Answer rating: 100% (QA)

The tax system uses marginal tax brackets so income is ta... View the full answer