This table shows the U.S. federal income tax rates from 2014. (Source: Internal Revenue Service) Rate Single Married Filing Jointly Married FPiling Separately Head of Household 10% so-59,075 so-S18,150 $0-59,075 $0-S12.950 15% $9,075-$36,900 S18,150-S73,800 $9,075-$36,900 $12,950-$49,400 25% $36,900-S89,350 $73,800-S148,850 $36,900-$74,425 $49,400-$127.550 28% S89,350-$186,350 $148,850-$226,850 $74,425-S113,425 $127.550-$206,600 33% $186,350-$405,100 $226,850-$405,100 S113,425-$202,550 206,600-$405,100 35% $405,100-$406,750 $405,100-$457,600 S 202,550-$228,800 $405,100-5432.200 39.6% Over $406,750 Over $457,600 Over $228,800 Over $432,200 Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,075, 15% tax on the amount over $9,075 up to $36,900, and 25% on the amount over $36,900 up to $40,000. If Abdul had a filing status of Married Filing Separately and a taxable income of $45,116 in the year 2014, how much did he owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar.

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
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Chapter1: Investments: Background And Issues
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This table shows the U.S. federal income tax rates from 2014. (Source: Internal Revenue Service)
Rate
Single
Married Filing Jointly Married Filing Separately
Head of Household
10% s0-S9,075
SO-S18,150
S0-59.075
$0-S12,950
1% $9,075-$36,900
S18,150-S73,800
$9,075-$36,900
$12,950-$49,400
25% $36,900-S89,350
$73,800-S148,850
$36,900-$74,425
$49,400-S127,550
28% S89,350-$186,350
S148,850-$226,850 $74,425-S113,425
$127.550-5206,600
33% $186,350-$405,100 $226,850-S405,100 S113,425-$202,550
$206,600-$405,100
35% $405,100-S406,750 $405,100-$457,600 s202,550-$228,800
$405,100-5432.200
39.6% Over $406,750
Over $457,600
Over $228,800
Over $432,200
Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status
of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,075, 15% tax on the amount over $9,075 up to
$36,900, and 25% on the amount over $36,900 up to $40,000.
If Abdul had a filing status of Married Filing Separately and a taxable income of $45,116 in
the year 2014, how much did he owe for federal income tax?
Do not round any intermediate computations. Round your answer to the nearest dollar.
Transcribed Image Text:This table shows the U.S. federal income tax rates from 2014. (Source: Internal Revenue Service) Rate Single Married Filing Jointly Married Filing Separately Head of Household 10% s0-S9,075 SO-S18,150 S0-59.075 $0-S12,950 1% $9,075-$36,900 S18,150-S73,800 $9,075-$36,900 $12,950-$49,400 25% $36,900-S89,350 $73,800-S148,850 $36,900-$74,425 $49,400-S127,550 28% S89,350-$186,350 S148,850-$226,850 $74,425-S113,425 $127.550-5206,600 33% $186,350-$405,100 $226,850-S405,100 S113,425-$202,550 $206,600-$405,100 35% $405,100-S406,750 $405,100-$457,600 s202,550-$228,800 $405,100-5432.200 39.6% Over $406,750 Over $457,600 Over $228,800 Over $432,200 Each row shows the tax rate on a specific portion of the taxpayer's taxable income given their filing status. For example, suppose a taxpayer has a filing status of Single and a taxable income of $40,000. This means that the taxpayer owes 10% tax on the first $9,075, 15% tax on the amount over $9,075 up to $36,900, and 25% on the amount over $36,900 up to $40,000. If Abdul had a filing status of Married Filing Separately and a taxable income of $45,116 in the year 2014, how much did he owe for federal income tax? Do not round any intermediate computations. Round your answer to the nearest dollar.
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