Help please Tax TableFor an individualwith $36,000 intaxable income, howmuch money willthat individual pay inthe 10% taxbracket?StandardDeduction$12,200.00Taxable incomeIncome Tax Rate0-$9,70010%$9,701-$39,47512%$39,476-$84,20022%$84,201-$160,27524%Above $160,27532-37%A. $12,200B. $3,600C. $9,700D. $970- 2021 Acelhus Corporation. All Rights Reserved.69

Solution: Amount of tax to be paid in 10% tax bracket = Taxable income under 10% tax bracket * 10%

Answered: Tax Table For an individual with…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter2: The Domestic And International Financial Marketplace

Section2.A: Taxes

Problem 3P

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Tax Table For an individual with $36,000 in taxable income, hov much money will that individual pay ir the 10% tax bracket? Standard $12,200.00 Deduction Taxable income Income Tax Rate 0-$9,700 10% $9,701-$39,475 12% $39,476-$84,200 22% $84,201-$160,275 24% Above $160,275 32-37%