Federal Income Tax Rates For the Year 2022 From To AmountTax Rate Maximum 50,197 50,197 15.0% 50,197 100,392 50,195 20.5% 100,392 155,625 55,233 26.0% 155,625 221,708 66,083 29.0% 221,708 infinity 33.0% Tax 7,529.55 10,289.98 14,360.58 19,164.07 Cummulative Tax 7,529.55 17,819.53 32,180.11 51,344.18 Using the above tax rates, what is the amount of federal tax owed on an income of 74587? Answer to two decimals. Do not use commas or $ signs.
Federal Income Tax Rates For the Year 2022 From To AmountTax Rate Maximum 50,197 50,197 15.0% 50,197 100,392 50,195 20.5% 100,392 155,625 55,233 26.0% 155,625 221,708 66,083 29.0% 221,708 infinity 33.0% Tax 7,529.55 10,289.98 14,360.58 19,164.07 Cummulative Tax 7,529.55 17,819.53 32,180.11 51,344.18 Using the above tax rates, what is the amount of federal tax owed on an income of 74587? Answer to two decimals. Do not use commas or $ signs.
Chapter1: Financial Statements And Business Decisions
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