Respuesta :
Answer:
b. 21% of federal tax
Step-by-step explanation:
70/336 × 100% ≈ 20.83% ≈ 21%
If Kevin is choosing a percentage of federal income tax, then 21% would be the appropriate choice.
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Comment on the question
Most withholding forms allow the choice of a percentage or a fixed dollar amount. It might be appropriate for Kevin to choose the amount of $70, rather than a percentage of income or federal tax.
The state income tax is [tex]21\%[/tex] of the federal income tax. Option (b) is correct.
Further Explanation:
Given:
The options of the federal income tax are as follows.
(a).[tex]18\%[/tex] of the federal income tax.
(b).[tex]21\%[/tex] of the federal income tax.
(c).[tex]25\%[/tex] of the federal income tax.
(d).[tex]29\%[/tex] of the federal income tax.
Explanation:
The paycheck for federal income tax is [tex]\$ 336.00[/tex] and the state income tax is [tex]\$ 70.[/tex]
The percentage of state tax can be calculated as follows,
[tex]\begin{aligned}Percentage&= \frac{{70}}{{336}} \times 100\\&= 0.2083 \times 100\\&= 20.83\% \\\end{aligned}[/tex]
The state income tax is 21\% of the federal income tax. Option (b) is correct.
Option (a) is not correct as the federal income tax is [tex]21\%.[/tex]
Option (b) is correct as the federal income tax is [tex]21\%.[/tex]
Option (c) is not correct as the federal income tax is [tex]21\%.[/tex]
Option (d) is not correct as the federal income tax is [tex]21\%.[/tex]
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Answer details:
Grade: College
Subject: Mathematics
Chapter: Investment
Keywords: Information, sales tax, property tax, paid, earned money, additional tax, income tax, withheld for taxes, wages, tax statement, state income tax, federal income tax, Kevin, salary, paycheck, [tex]\$336[/tex],[tex]\$70.[/tex]
