Charlotte is a librarian who has a taxable income of $69410. The tax payable on the first $37000 is $3572 and the balance was taxed at the rate of 32.5%. How much does Charlotte have to pay in tax, to the nearest dollar?

Question

1219 views around the world

You can reuse this answer
Creative Commons License

Answer 1 · 2018-03-05T11:40:48

Charlottte has to pay #$14105# in tax.

Taxable Income #I=$69410#.Tax on first #$37000=3572#

Tax rate in excess of #$37000# is #32.5%#

Tax, #T= 3572+(69410-37000)*0.325=$14105.25#

Charlottte has to pay #$14105# in tax [Ans]