The government of Antigua wishes to introduce income tax to increase government revenue. In so doing,...
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The government of Antigua wishes to introduce income tax to increase government revenue. In so doing, a consultant was hired to make recommendations on the best way forward. The consultant proposed that the government shouldn't tax any employee earning below XCD25,000.00 annually or the employee first XCD25,000.00 annually. Thereafter, any employee earning between XCD25,000.00 and XCD40,000.00 annually should pay 5.5% income tax and then any employee earning above XCD40,000.00 should pay 10.5% income tax. For the above information a) Derive a mathematical function to represent the consultant's position clearly identifying all variables and intervals. b) From part a) above, state the name of ALL the mathematical functions derived. 3. The government of Antigua wishes to introduce income tax to increase government revenue. In so doing, a consultant was hired to make recommendations on the best way forward. The consultant proposed that the government shouldn't tax any employee earning below XCD25,000.00 annually or the employee first XCD25,000.00 annually. Thereafter, any employee earning between XCD25,000.00 and XCD40,000.00 annually should pay 5.5% income tax and then any employee earning above XCD40,000.00 should pay 10.5% income tax. For the above information a) Derive a mathematical function to represent the consultant's position clearly identifying all variables and intervals. b) From part a) above, state the name of ALL the mathematical functions derived. c) If Jane (someone working in Antigua) pays XCD750.00 in income tax, calculate Jane's annual income. The government of Antigua wishes to introduce income tax to increase government revenue. In so doing, a consultant was hired to make recommendations on the best way forward. The consultant proposed that the government shouldn't tax any employee earning below XCD25,000.00 annually or the employee first XCD25,000.00 annually. Thereafter, any employee earning between XCD25,000.00 and XCD40,000.00 annually should pay 5.5% income tax and then any employee earning above XCD40,000.00 should pay 10.5% income tax. For the above information a) Derive a mathematical function to represent the consultant's position clearly identifying all variables and intervals. b) From part a) above, state the name of ALL the mathematical functions derived. 3. The government of Antigua wishes to introduce income tax to increase government revenue. In so doing, a consultant was hired to make recommendations on the best way forward. The consultant proposed that the government shouldn't tax any employee earning below XCD25,000.00 annually or the employee first XCD25,000.00 annually. Thereafter, any employee earning between XCD25,000.00 and XCD40,000.00 annually should pay 5.5% income tax and then any employee earning above XCD40,000.00 should pay 10.5% income tax. For the above information a) Derive a mathematical function to represent the consultant's position clearly identifying all variables and intervals. b) From part a) above, state the name of ALL the mathematical functions derived. c) If Jane (someone working in Antigua) pays XCD750.00 in income tax, calculate Jane's annual income.
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Solution a fx 0 for x 25000 0055x 12500 for 25000 x 40000 01... View the full answer
Related Book For
Management Accounting
ISBN: 978-0132570848
6th Canadian edition
Authors: Charles T. Horngren, Gary L. Sundem, William O. Stratton, Phillip Beaulieu
Posted Date:
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