Question: This is my question I am currently working on. Can you explain to me how the problem is worked? Thank you. Use the following table

This is my question I am currently working on. Can you explain to me how the problem is worked? Thank you.

Use the following table to answer both part A and part B.Show the mathematical steps you used to determine your answers.

Taxable IncomeTaxes

$1,000-$5,000

10% of taxable income

$5,001-$10,000

$500 + 12% of everything over $5,000

$10,001-$15,000

$1,100 + 15% of everything over $10,000

A) If a person's income is $6,000, how much does he pay in taxes?

B) If a person's income is $14,000, how much does he pay in taxes?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

The Weinberger Electronics Corporation manufactures four highly technical products that it supplies to aerospace firms that hold NASA contracts. Each of the products must pass through the following...

Q:

Please help solve problem 21-37 in chapter 21. What is the working capital of , 12/31/x1 ? and please help solve problem 21-38 ? thank you 21 Chapter Twenty-One Analyzing Financial Statements After...

Q:

Please help solve problem 21-37 in chapter 21. What is the working capital of , 12/31/x1 ? and please help solve problem 21-38 ? thank you 21 Chapter Twenty-One Analyzing Financial Statements After...

Q:

seventh pages Chapter 3 Curve Sketching How much metal would be required to make a 400-mL soup can? What is the least amount of cardboard needed to build a box that holds 3000 cm3 of cereal? The...

Q:

Location Income ($1,000) Urban 27 Rural 25 Suburban 25 Suburban 26 Rural 30 Urban 29 Rural 33 Urban 30 Suburban 32 Urban 34 Urban 35 Urban 40 Rural 30 Rural 33 Urban 42 Suburban 32 Urban 43 Urban 43...

Q:

I need this done using your own work. I need to see how you got the answers and try to show work s we look back on 2014, we are pleased with our accomplishments. We continued to focus for many...

Q:

yesterday at 8:42 pm are added sizes. All are stored hat all the e product anager has hits, a unit scheme ers, one rol lab mixers. and four produc- QMINI-CASE Scotsburn Dairy: The MPS Problem The...

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

I am looking for "Progress Test 3 and 4" for ACCT 652 @ Pepperdine University... Attached are "Progress Test 1 and 2" for ACCT 652 @ Pepperdine University to help reference what I am looking for......

Q:

Caliber's Burgers and Fries is a rapidly expanding chain of fast-food restaurants, and the firm's management wants to estimate the cost of equity for the firm. As a frim approximation, the firm plans...

Q:

Use the information below to answer the following questions: Original Scenario 1 Scenario 2 Sales 3,726,000 4,560,624 4,560,624 - Variable Costs 801,900 1,071,498.78 1,129,331.81 = Contribution...

Q:

LarCalc 1 2 1 3 . 9 . 0 2 6 . Find the least squares regression line for the points. ( 0 , 4 ) , ( 2 , 3 ) , ( 8 , 2 ) y ( x ) =

Q:

What responsibility, if any, do auditors have to search for related-party transactions? If auditors discover that a client has engaged in related-party transactions, what audit procedures should be...

Q:

During the 2004 DHB audit, the companys independent auditors had considerable difficulty obtaining reliable audit evidence regarding the $7 million of obsolete vest components that allegedly had been...

Q:

Identify the fraud risk factors posed by DHB for its independent auditors. Which of these factors, in your opinion, should have been of primary concern to those auditors?

Q:

Topeka Plastics Inc. prepared the following factory overhead cost budget for the Trim Department for July, during which it expected to use 25,000 hours for production: Variable overhead cost:...

Q:

Exhibits 1 and 4 present DHBs original 20032004 balance sheets and income statements and the restated balance sheets and income statements for those two years, respectively. Review the original and...

Q:

In the text Introduction to Intelligence Studies, 2nd addition It states that the NYPD has embraced intelligence more than any other agency. What sets NYPD apart from other law enforcement agencies?...

Q:

4. Give examples of how a communication situation can change from a win-lose to a winwin situation.

Q:

3. Why is the following statement, If the Church is a context, it is because it is inside our heads, correct?

Q:

1. Discuss the following statements: a) Jeppe drinks because Holberg (the author) forced him to. b) When the soup you are served tastes bad, complain to the cookbook publisher. c) The purpose of an...