John is a marketing executive who makes $170,000 a year. His latest campaign was a great success, and his bosses decided to reward him with a $30,000 raise. Assuming John is single, takes a standard deduction, and claims only himself as an exemption, calculate John's after-tax pay both before and after the raise

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ISBN:9780470458365
Author:Erwin Kreyszig
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John is a marketing executive who makes $170,000 a year. His latest campaign was a great success, and his bosses decided to reward him with a $30,000 raise. Assuming John is single, takes a standard deduction, and claims only himself as an exemption, calculate John's after-tax pay both before and after the raise.

Single
Такаble
Of the
But not
income is
The tax is
Plus
ament
ever
over
over
8,360
10 00
10%
8,360
33,950
835 00
15%
8,350
33,950
82,250
4,675.00
25%
33,950
02,250
171560
16,750 00
20%
82,250
171,560
372,950
41,754.00
33%
171,550
372,960
108,216.00
35%
372,950
Transcribed Image Text:Single Такаble Of the But not income is The tax is Plus ament ever over over 8,360 10 00 10% 8,360 33,950 835 00 15% 8,350 33,950 82,250 4,675.00 25% 33,950 02,250 171560 16,750 00 20% 82,250 171,560 372,950 41,754.00 33% 171,550 372,960 108,216.00 35% 372,950
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