2018 Federal Income Tax Brackets (pre-TCJA) Taxable Income Tax Rate $0-$9,525 $9,526-$38, 700 $38,701-$93,700 $93,701-$195,450 $195,451–$424,950 $424,951–$426,700 Over $426,700 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 39.6% Using the table, what is the total federal income tax bill for someone who makes $77,000 per year? O $14,903.75 O $8,050.25 O $10,780.25 O $5,700.75 O $9,169.50
2018 Federal Income Tax Brackets (pre-TCJA) Taxable Income Tax Rate $0-$9,525 $9,526-$38, 700 $38,701-$93,700 $93,701-$195,450 $195,451–$424,950 $424,951–$426,700 Over $426,700 10.0% 15.0% 25.0% 28.0% 33.0% 35.0% 39.6% Using the table, what is the total federal income tax bill for someone who makes $77,000 per year? O $14,903.75 O $8,050.25 O $10,780.25 O $5,700.75 O $9,169.50
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question 39
![Refer to the following table to answer the next seven questions.
2018 Federal Income Tax Brackets (pre-TCJA)
Taxable Income
$0-59,525
$9,526-$38,700
$38,701-$93,700
$93,701–$195,450
$195,451-$424,950
$424,951-$426,700
Over $426,700
Tax Rate
10.0%
15.0%
25.0%
28.0%
33.0%
35.0%
39.6%
Using the table, what is the total federal income tax bill for someone who makes $77,000 per year?
O $14,903.75
O $8,050.25
$10,780.25
$5,700.75
$9,169.50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F950ccb0b-88f0-424e-a789-46ed3bd2a086%2F2cf0966e-2014-4e4e-b69e-7f6f466155ee%2Fq0bp2lb_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Refer to the following table to answer the next seven questions.
2018 Federal Income Tax Brackets (pre-TCJA)
Taxable Income
$0-59,525
$9,526-$38,700
$38,701-$93,700
$93,701–$195,450
$195,451-$424,950
$424,951-$426,700
Over $426,700
Tax Rate
10.0%
15.0%
25.0%
28.0%
33.0%
35.0%
39.6%
Using the table, what is the total federal income tax bill for someone who makes $77,000 per year?
O $14,903.75
O $8,050.25
$10,780.25
$5,700.75
$9,169.50
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