A firm is a sole proprietorship that has taxable income of $94,200. The additional tax that will be owed if 14.24 the taxable income increases by $1000 based on the following tax rates is $ Taxable Income Tax Rate $4 O - 9,525 10% 9,526 38.700 12 38.701 - 82.500 22 82.501 - 157.500 24
A firm is a sole proprietorship that has taxable income of $94,200. The additional tax that will be owed if 14.24 the taxable income increases by $1000 based on the following tax rates is $ Taxable Income Tax Rate $4 O - 9,525 10% 9,526 38.700 12 38.701 - 82.500 22 82.501 - 157.500 24
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text:A firm is a sole proprietorship that has taxable income of $94,200. The additional tax that will be owed if
14.24
the taxable income increases by $1.000 based on the following tax rates is $
Taxable Income
Tax Rate
24
9,525
10%
9,526 -
38.700
12
38.701 -
82.500
22
82,501
157.500
24
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