The tax rates are as shown below: Taxable Income Tax Rate 15% $0 - 50,000 50,00175,000 25% 75,001 100,000 34% 100,001 335,000 39% Your firm currently has taxable income of $80,900. How much additional tax will you owe if you increase your taxable income by $22,100? Multiple Choice O $8,619 $7,284 $7,664 $7,274
The tax rates are as shown below: Taxable Income Tax Rate 15% $0 - 50,000 50,00175,000 25% 75,001 100,000 34% 100,001 335,000 39% Your firm currently has taxable income of $80,900. How much additional tax will you owe if you increase your taxable income by $22,100? Multiple Choice O $8,619 $7,284 $7,664 $7,274
Chapter2: The Domestic And International Financial Marketplace
Section2.A: Taxes
Problem 3P
Related questions
Question
![The tax rates are as shown below:
Taxable Income
Tax Rate
50,000
15%
$0
50,001 75,000
25%
75,001 100,000
34%
100,001 335,000
39%
Your firm currently has taxable income of $80,900. How much additional tax will you owe if you increase your taxable income by $22,100?
Multiple Choice
O
O
O
$8,619
$7,284
$7,664
$7,274
$7,514](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F55742c6b-b8d0-4aa0-91ba-4316e3200de6%2F04bf8e59-1ff5-4e39-b1c1-4176472e2234%2Fp8rk5f_processed.png&w=3840&q=75)
Transcribed Image Text:The tax rates are as shown below:
Taxable Income
Tax Rate
50,000
15%
$0
50,001 75,000
25%
75,001 100,000
34%
100,001 335,000
39%
Your firm currently has taxable income of $80,900. How much additional tax will you owe if you increase your taxable income by $22,100?
Multiple Choice
O
O
O
$8,619
$7,284
$7,664
$7,274
$7,514
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