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Josh earned $82,500 in taxable income, all from wages and interest, and files an individual tax return. What is the amount of Josh's taxes for the year 2015? Round to the nearest dollar.

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Karabo99

Answer:

Josh's taxes for the year 2015 are $16481.25.

Explanation:

tax rates are 10%, 15% and 25%.

Josh's taxes = 10%×9075 + 15%×(36900-9075) + 25%×(82500-36900)

                     = $907.5 + $4173.75 + $11400

                     = $16481.25

Therefore, Josh's taxes for the year 2015 are $16481.25.

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