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Calculate the state income tax owed on a $50,000 per year salary. tax = $[ ?] %3D

Calculate the state income tax owed on a $50,000 per year salary. tax = $[ ?] %3D

Essentials Of Investments
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
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A certain state uses the following progressive tax rate for calculating individual income tax: Income Progressive Range ($) Tax Rate 0 - 3000 3001 - 5000 2% 3% 5001 - 17,000 5% 17,001 and up 5.75% Calculate the state income tax owed on a $50,000 per year salary. tax = $[? ] Round your answer to the nearest whole dollar amount. Enter cellus Corporation. All Rights Reserved. 69 立
Transcribed Image Text:A certain state uses the following progressive tax rate for calculating individual income tax: Income Progressive Range ($) Tax Rate 0 - 3000 3001 - 5000 2% 3% 5001 - 17,000 5% 17,001 and up 5.75% Calculate the state income tax owed on a $50,000 per year salary. tax = $[? ] Round your answer to the nearest whole dollar amount. Enter cellus Corporation. All Rights Reserved. 69 立
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