Sara has an annual income of $70,000. Using the tax tableIf taxableBut notincomeThe tax is:over--is over--$0$16,75010% of the amount over $0$16,750$68,000$1,675.00 plus 15% of the amountover 16,750$9,362.50 plus 25% of the amount$68,000$137,300over 68,000$26,687.50 plus 28% of the amount$137,300$209,250over 137,300$46,833.50 plus 33% of the amount$209,250$373,650over 209,250$101,085.50 plus 35% of the$373,650no limitamount over 373,6501. Calculate how much money she pays in taxes.2. Calculate how much she saves in taxes by putting $150/monthinto this account (which means the money is deducted fromincome before taxes are calculated).3. If Sara was the same employee from the previous question, isthe flexible spending plan worth it for her? Why or why not?

Given that: Annual income = $70000

Answered: Sara has an annual income of $70,000.…

Sara has an annual income of $70,000. Using the tax table If taxable But not income The tax is: over-- is over--

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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