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51. Use the marginal tax rates in the table below to compute the tax owed in the following situation. Gene is single and had a taxable income of $35,000. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Single up to $9325 up to $37,950 up to $91,900 up to $191,650 up to $416,700 up to $418,400 above $418,400 $6350 $4050 The tax owed is $4484 (Simplify your answer. Round to the nearest dollar as needed.) ($35,000-9325)*15% His tax bill will be reduced by $ 25,675*15%-3851 52. A man is in the 35% tax bracket and claims the standard deduction. How much will his tax bill be reduced if he qualifies for a $1000 tax credit? (Simplify your answer.) 3851+932.5=4784

51. Use the marginal tax rates in the table below to compute the tax owed in the following situation. Gene is single and had a taxable income of $35,000. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Single up to $9325 up to $37,950 up to $91,900 up to $191,650 up to $416,700 up to $418,400 above $418,400 $6350 $4050 The tax owed is $4484 (Simplify your answer. Round to the nearest dollar as needed.) ($35,000-9325)*15% His tax bill will be reduced by $ 25,675*15%-3851 52. A man is in the 35% tax bracket and claims the standard deduction. How much will his tax bill be reduced if he qualifies for a $1000 tax credit? (Simplify your answer.) 3851+932.5=4784

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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51. Use the marginal tax rates in the table below to compute the tax owed in the following situation. Gene is single and had a taxable income of $35,000. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Single up to $9325 up to $37,950 up to $91,900 up to $191,650 up to $416,700 up to $418,400 above $418,400 $6350 $4050 The tax owed is $4484 (Simplify your answer. Round to the nearest dollar as needed.) ($35,000-9325)*15% 25,675*15%-3851 (Simplify your answer.) 3851+932.5=4784 52. A man is in the 35% tax bracket and claims the standard deduction. How much will his tax bill be reduced if he qualifies for a $1000 tax credit? His tax bill will be reduced by $
Transcribed Image Text:51. Use the marginal tax rates in the table below to compute the tax owed in the following situation. Gene is single and had a taxable income of $35,000. Tax Rate 10% 15% 25% 28% 33% 35% 39.6% Standard deduction Exemption (per person) Single up to $9325 up to $37,950 up to $91,900 up to $191,650 up to $416,700 up to $418,400 above $418,400 $6350 $4050 The tax owed is $4484 (Simplify your answer. Round to the nearest dollar as needed.) ($35,000-9325)*15% 25,675*15%-3851 (Simplify your answer.) 3851+932.5=4784 52. A man is in the 35% tax bracket and claims the standard deduction. How much will his tax bill be reduced if he qualifies for a $1000 tax credit? His tax bill will be reduced by $
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