The government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.

The government of Lesotho charges 10% on income up to M75 000 plus 16% any amount over M70 000 up M300 000 and 26% of any amount over M300 000. Express the above as a tax function. Find the income tax for an income of M125 000. Compute the income tax of an income of M350 000.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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