QUESTION 3 Following is a partial personal taxable income schedule for a single filer: But Not Difference Over- Over- S 0 9,525 38,700 $ 9,525 38,700 82,500 $ 9,525 29,175 43,800 Marginal Tax Rate 0.10 0.12 0.22 What would be the maximum dollar amount of income taxes in the $38,700-$82,500 bracket paid by a single filer with taxable income of $82,500?

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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QUESTION 3
Following is a partial personal taxable income schedule for a single filer:
But Not
Over-
Difference
Over-
$
0
9,525
38,700
$ 9,525
38,700
82,500
$ 9,525
29,175
43,800
Marginal
Tax Rate
0.10
0.12
0.22
What would be the maximum dollar amount of income taxes in the $38,700-$82,500 bracket paid by a single filer with taxable income of $82,500?
Transcribed Image Text:QUESTION 3 Following is a partial personal taxable income schedule for a single filer: But Not Over- Difference Over- $ 0 9,525 38,700 $ 9,525 38,700 82,500 $ 9,525 29,175 43,800 Marginal Tax Rate 0.10 0.12 0.22 What would be the maximum dollar amount of income taxes in the $38,700-$82,500 bracket paid by a single filer with taxable income of $82,500?
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