Every year in the United States each working American typically pays in taxes a percentage of his
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Every year in the United States each working American typically pays in taxes a percentage of his or her earnings (minus the standard deduction). Karen’s 2005 taxes were calculated based on the formula T(x) = 0.22(x - 6500). That year the standard deduction was $6500 and her tax bracket paid 22% in taxes. Write the function that will determine her 2006 taxes, assuming she receives a raise that places her in the 33% bracket.
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Valuation The Art and Science of Corporate Investment Decisions
ISBN: 978-0133479522
3rd edition
Authors: Sheridan Titman, John D. Martin
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