In 2015, a country's progressive income tax rates were 15% on the first $25,000, 2) 18% on the next $35,000, 20% on the next $45,000, and 25% on any additional income. If your gross taxable earnings for the year were $150,000, calculate the total income tax that you paid.

In 2015, a country's progressive income tax rates were 15% on the first $25,000, 2) 18% on the next $35,000, 20% on the next $45,000, and 25% on any additional income. If your gross taxable earnings for the year were $150,000, calculate the total income tax that you paid.

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

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Chapter1: Making Economics Decisions

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2)
In 2015, a country's progressive income tax rates were 15% on the first $25,000,
18% on the next $35,000, 20% on the next $45,000, and 25% on any additional income. If your
gross taxable earnings for the year were $150,000, calculate the total income tax that you paid.

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