shows the tax brackets for 2016 for single workers. Taxable Income $0 to $9,375 $9,376 to $37,550 $37,551 to $90,850 $90,851 to $189,500 $189,501 to $411,650 $411.651 to $414,500 $414,501 or more person who has $5,629 of taxable income using the table below which Answer to the nearest penny. Tax Rate 12% of amount over $0 $945 plus 16% of the amount over $9,375 $5,278 plus 26% of the amount over $37,550 $18,526 plus 29% of the amount over $90,850 $46,592 plus 34% of the amount over $189.500 $119,622 plus 36% of the amount over $411,650 $120,135 plus 40.2% of the amount over $414,500

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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shows the tax brackets for 2016 for single workers.
person who has $5,629 of taxable income using the table below which
Taxable Income
$0 to $9,375
$9,376 to $37,550
$37,551 to $90,850
$90,851 to $189,500
$189,501 to $411,650
$411.651 to $414,500
$414,501 or more
Answer to the nearest penny.
Tax Rate
12% of amount over $0
$945 plus 16% of the amount over $9,375
$5,278 plus 26% of the amount over $37,550
$18,526 plus 29% of the amount over $90,850
$46,592 plus 34% of the amount over $189.500
$119,622 plus 36% of the amount over $411,650
$120,135 plus 40.2% of the amount over $414,500
hp
Transcribed Image Text:shows the tax brackets for 2016 for single workers. person who has $5,629 of taxable income using the table below which Taxable Income $0 to $9,375 $9,376 to $37,550 $37,551 to $90,850 $90,851 to $189,500 $189,501 to $411,650 $411.651 to $414,500 $414,501 or more Answer to the nearest penny. Tax Rate 12% of amount over $0 $945 plus 16% of the amount over $9,375 $5,278 plus 26% of the amount over $37,550 $18,526 plus 29% of the amount over $90,850 $46,592 plus 34% of the amount over $189.500 $119,622 plus 36% of the amount over $411,650 $120,135 plus 40.2% of the amount over $414,500 hp
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