i need help with th first three **Proposed Regressive Plan**| Income Range | Tax Rate | Calculation for $95,000 | Calculation for $25,000 ||--------------|----------|-------------------------|-------------------------|| 40% on income up to $25,000 | 40% | | || 30% on income between $25,000 and $34,000 | 30% | | || 25% on income between $34,000 and $44,000 | 25% | | || 20% on income between $44,000 and $80,000 | 20% | | || 10% on taxable income over $80,000 | 10% | | |**TOTAL TAX PAID (sum of all rows):****Instructions:** - Calculate the tax for $95,000. - For example, $10,000 x 40% = $4,000 in tax. - **Show your work!!**- Calculate the tax for $25,000. - For example, $10,000 x 40% = $4,000 in tax. - **Show your work!!**

Here we are given the income tax structure, using that we solve the given questions.

Proposed Regressive Plan 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 20% on income between $44,000 and $80,000 10% on taxable income over $80,000 TOTAL TAX PAID (sum of all rows): Calculate the tax for $95,000. For example, $10,000x40%-$4,000 in tax. Show your work!! Calculate the tax for $25,000. For example, $10,000x40%-$4,000 in tax. Show your work!!

Proposed Regressive Plan 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000 and $44,000 20% on income between $44,000 and $80,000 10% on taxable income over $80,000 TOTAL TAX PAID (sum of all rows): Calculate the tax for $95,000. For example, $10,000x40%-$4,000 in tax. Show your work!! Calculate the tax for $25,000. For example, $10,000x40%-$4,000 in tax. Show your work!!

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

i need help with th first three

**Proposed Regressive Plan**

| Income Range | Tax Rate | Calculation for $95,000 | Calculation for $25,000 |
|--------------|----------|-------------------------|-------------------------|
| 40% on income up to $25,000 | 40% | | |
| 30% on income between $25,000 and $34,000 | 30% | | |
| 25% on income between $34,000 and $44,000 | 25% | | |
| 20% on income between $44,000 and $80,000 | 20% | | |
| 10% on taxable income over $80,000 | 10% | | |

**TOTAL TAX PAID (sum of all rows):**

**Instructions:**
- Calculate the tax for $95,000.
- For example, $10,000 x 40% = $4,000 in tax.
- **Show your work!!**

- Calculate the tax for $25,000.
- For example, $10,000 x 40% = $4,000 in tax.
- **Show your work!!**

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