Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income: For the first $150,000 of income, every dollar is taxed at a rate of 10% . Each additional dollar over $150,000 is taxed at a rate of 22% for up to $225,000 of income. Each additional dollar over - $225,000 is taxed at a rate of 31% for up to $475,000 of income. Every dollar over $475,000 is taxed at a rate of 47% . (a) Find a piecewise-defined function I that specifies the yearly federal income tax for a person earning X dollars per year. if xsv 150000 if if 0.1x 0.22x-18000 150000
Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income: For the first $150,000 of income, every dollar is taxed at a rate of 10% . Each additional dollar over $150,000 is taxed at a rate of 22% for up to $225,000 of income. Each additional dollar over - $225,000 is taxed at a rate of 31% for up to $475,000 of income. Every dollar over $475,000 is taxed at a rate of 47% . (a) Find a piecewise-defined function I that specifies the yearly federal income tax for a person earning X dollars per year. if xsv 150000 if if 0.1x 0.22x-18000 150000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please help me figure out the fourth part.
Transcribed Image Text:Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income:
For the first $150,000 of income, every dollar is taxed at a rate of 10% .
Each additional dollar over
$150,000 is taxed at a rate of 22% for up to $225,000 of income.
Each additional dollar over
$225,000 is taxed at a rate of 31% for up to $475,000 of income.
Every dollar over
$475,000 is taxed at a rate of 47% .
(a) Find a piecewise-defined function I that specifies the yearly federal income tax for a person earning X dollars per year.
if x
if
if
if x
0.1x
150000
0.22x-18000
150000
X sv225000
T(x) = •
0.31x-38250
225000
Xsv475000
The submission, 0.47x-122000, is incorrect.
475000
•E•- • •
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