f(x) = 0.11x +(x- if 0 74,300
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:K
A tax rate schedule is
given in the table. If x
equals taxable income
and y equals the
tax due, construct a
function y = f(x) for the
tax schedule.
f(x) =
0.11x
+(x-D
☐+(×-D)
If taxable
income is
over
But not
over
0
8,000
30,700 74,300
74,300
The tax is
this
amount
0.00 +
8,000
30,700 880.00 +
4,512.00 +
14,976.00 +
if 0<x<8,000
if 8,000 < x≤30,700
if 30,700<x<74,300
14,976.00+0.31(x-74,300) if x > 74,300
Plus
this %
11%
16%
24%
31%
Of the
excess
over
0
8,000
30,700
74,300
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