John and Kim are married, however, they did not have health insurance for any of 2016. Their household income was $50,000. What is the penalty they will have to pay – flat fee or percentage - what is the dollar amount? a.) $1390 b.) S732.50 c.) S1588 d.) $1250
John and Kim are married, however, they did not have health insurance for any of 2016. Their household income was $50,000. What is the penalty they will have to pay – flat fee or percentage - what is the dollar amount? a.) $1390 b.) S732.50 c.) S1588 d.) $1250
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![John and Kim are married, however, they did not have health insurance for any of 2016. Their household
income was $50,000. What is the penalty they will have to pay - flat fee or percentage - what is the dollar
amount?
a.) $1390
b.) $732.50
c.) $1588
d.) $1250](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8699ade2-8d04-4c4f-9085-3e7ad30c8dc0%2F92833644-5b73-42f7-b460-85f35da0beea%2Fis6lve_processed.jpeg&w=3840&q=75)
Transcribed Image Text:John and Kim are married, however, they did not have health insurance for any of 2016. Their household
income was $50,000. What is the penalty they will have to pay - flat fee or percentage - what is the dollar
amount?
a.) $1390
b.) $732.50
c.) $1588
d.) $1250
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