Question: complete the table using the proposed new tax plan information and answer question 2-5 Proposed New Tax Plan: - For taxable income from $0 to

Proposed New Tax Plan: - For taxable income from $0 to $45,000, you pay 12% of it in taxes, plus - For taxable income from $45,001 to $200,000, you pay 25% of it in taxes, plus - For taxable income from $200,001 to $500,000, you pay 35% of it in taxes, plus - For taxable income of $500,001 or more, you pay 39.6%. Where the standard deduction was raised to $12,200 and the personal exemption was eliminated. For the remaining exercises, we will only consider this proposed tax plan. 1. Complete both of the tabies below: 2. How many slopes would be on this graph? 3. Write a function to model the total tax paid, T(x), with a total income of x dollars. 4. How much does a person pay in taxes if their total income is $210,000 ? 5. What is the slope of the line when an individual's total income is $210,000 ? NOTE: For a Total Income of $85,000, an individual would pay $12,350 in taxes
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
