Problem 1-52 (LO 1-5) (Algo) Given the following tax structure: Taxpayer Salary Total tax Mae $ 32,000 $ 3,200 Pedro $ 49,000 ??? Required: What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount.

Problem 1-52 (LO 1-5) (Algo) Given the following tax structure: Taxpayer Salary Total tax Mae $ 32,000 $ 3,200 Pedro $ 49,000 ??? Required: What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Problem 1-52 (LO 1-5) (Algo)

Given the following tax structure:

Taxpayer	Salary	Total tax
Mae	$ 32,000	$ 3,200
Pedro	$ 49,000	???

Required:

What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?
Note: Round your final answer to nearest whole dollar amount.

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