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Linda made $30,000 in taxable income last year.Suppose the income tax rate is 15% for the first $7000 plus 18% for the amount over $7000.How much must Linda pay in income tax for last year?Х5?Continue2022 M

Linda made 30000 in taxable income last yearSuppose the income tax rate is 15 for the first 7000 plus 18 for the amount over 7000How much must Linda pay in inco class=

Respuesta :

Given:

Income made last year = $30,000

Tax rate for the first $7000 = 15% = 0.15

Tax rate for the amount over $7000 = 18% = 0.18

Let's find the amount Linda must pay in income tax last year.

To find the amount she must pay, we have:

Tax for first $7000 = 0.15 x 7000 = $1050

Tax for amount over $7000 = 0.18 x (30000 - 7000)

= 0.18 x 23000 = $4140

Therefore, the amount she must pay in income tax is:

T = $1050 + $4140 = $5,190

Linda must pay $5,190 in income tax for last year.

ANSWER:

$5,190

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