Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
| Married Filing Jointly | |
|---|---|
| If Taxable Income Is Between: | Then the Tax Due Is: |
| $0 - $0 - $19,400$19,400 | 10%10% of taxable income |
| \(\$19{,}401\textsf{ - }\) $78,950$78,950 | $1940+12%$1940+12% of the amount over $19,400$19,400 |
| \(\$78{,}951\textsf{ - }\) \(\$168{,}400\) | $9086+22%$9086+22% of the amount over $78,950$78,950 |
| \(\$168{,}401\textsf{ - }\) $321,450$321,450 | $28,765+24%$28,765+24% of the amount over $168,400$168,400 |
| \(\$321{,}451\textsf{ - }\) $408,200$408,200 | $65,497+32%$65,497+32% of the amount over $321,450$321,450 |
| \(\$408{,}201\textsf{ - }\) $612,350$612,350 | $93,257+35%$93,257+35% of the amount over $408,200$408,200 |
| $612,351+$612,351+ | $164,709.50+37%$164,709.50+37% of the amount over $612,350$612,350 |
A married couple filing jointly has a taxable income of $75,000.$75,000. How much will they pay in federal income taxes?
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