Answered: Use the 2016 marginal tax rates to…

Use the 2016 marginal tax rates to compute the tax owed by the following person. A head of household with a taxable income of $53,000 and a $6000 tax credit. The tax owed is $_

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

See similar textbooks

Related questions

Q: List three reasons why a person might choose to get a payday loan.

Q: As one of the loan officers for Grove Gate Bank, calculate the monthly principal and interest, PI…

Q: You have a charge card. You receive a bill, dated June 5. Your balance fluctuated during the 31-day…

A: Formula Used: Average = ∑FX∑F

Q: Determine the following estimate without using a calculator. Then use a calculator to perform the…

A: Solution : Given that A full time employee who works 40 hours per week earns $25.50 per hour

Q: A proposed income tax charges 10% on a person's income up to $25,000 and then 20% on income above…

A: Income tax charges are 10% for income upto $ 25000. Hence, 25000 < 60000 Therefore, income tax…

Q: Often lotery winnings are divided into equal payments given annually for 20-25 years. So the present…

A: Jackpot amount $4,000,000 The objective is to find the present value in dollars. Lottery winnings…

Q: Assume you have a home that would cost $265,000 to replace. You currently have the home insured for…

A: Insurance is sharing of risk of damage with insurance company by payment of small premium.

Q: Apex Bank checking accounts pay 0.4% interest on all balances and charge the following fees: Check…

A: Give the answer using the above information

Q: A company reports the following income statement and balance sheet information for the current year:…

A: Given information, Net income = $114,590Interest expense = $9,963Average total assets = $1,859,000…

Q: please answer question 8

A: Given Amount =$8500 Discount rate =6.5%=0.065 Period =450 days. 360 days a year…

Q: Compute Darryl's total Social Security and Medicare taxes for the third quarter, if she is…

Q: A surface mount PCB placement/soldering line is to be installed for $2,300,000. It will have a…

A: To calculate the annual depreciation expense, we need to subtract the salvage value from the initial…

Q: Which of the following examples are tax credits that people can receive? Select all that apply.…

A: The objective of the question is to identify which of the provided options are recognized as tax…

Q: As the payroll manager for a particular company, your task is to complete the following weekly…

A: From the data given in the table , the total number of hours can be calculated by adding all hours…

Q: EMPLOYEE PAY STUB EMPLOYER NAME Books & Nooks EMPLOYER ADDRESS 967 University Ave tlanta, GA 30334…

A: To calculate the percentage of Mark's pay that his deductions comprise, we need to determine the…

Q: Betty Smith is the owner of Accurate Tax Service. For the year ending April 30, 2019, the following…

A: To prepare an income statement for Accurate Tax Service for the year ending April 30, 2019, we need…

Q: For the second mortgage application, calculate the percentage of appraised value and the potential…

A: Answer Given AppraisedValue ender'sPercentage Percentage ofAppraised Value (in $) Balance…

Q: (b) Use the function to find T(30,000). $ (c) Find the tax due on a taxable income of $120,000.

Q: Use the following tax table to determine how much income tax is paid on 981500 of taxable income.…

A: Given Rate : Rate Taxable Income Bracket 10% $0 to $9,325 15% $9,325 to $37,950 25%…

Q: What is the monthly mortgage constant on a 20-year mortgage loan of $75,000 requiring payments of…

A: Note;- These are multiple questions according to guideline we can do maximum 1 question so i am…

Q: Calculate the total cost, total depreciation, and annual depreciation (in $) for the following…

A: Given that Cost = $700,000 Shipping Charges = 0 Setup Charges = $15,600 Salvage Value = $100,000…

Q: Use the 2016 marginal tax rates to compute the tax owed by the following person. A single man with…

A: Taxable income is $13000 According to the chart, Upto 9275 the tax is 10% From 9276 to 37000 the…

Q: Prepare a contribution format income statement for last year. (Round per unit computations to 2…

Q: Scott was involved in an auto accident in which he was at fault. His own car sustained $2,980…

A: Given information: Damage sustained by Scott car's = $2980 Damage sustained by other vehicle = $2348…

Q: Use Exhibit 18-1 to determine the sales tax (in $) and calculate the total purchase price (in $) for…

Q: For the second mortgage application, calculate the percentage of appraised value and the potential…

Q: Calculate the average credit age.

A: We have to calculate the mean length of credit age.

Q: A person owes $1000 on a credit card that charges an interest rate of 2% per month. Complete this…

A: solutionGivenInterest rate=2% per monthowes=1000$

Q: Unmarried head of household with two dependent childrenGross Income: $70,000Adjustments:…

A: The table you provided shows the 2021 marginal tax rates and standard deductions in the United…

Q: ndividuals filing federal income tax returns prior to March 31 received an average refund of $1056.…

A: . A researcher suggests that a reason individuals wait until the last five days is that on average…

Question

Use the 2016 marginal tax rates to compute the tax owed by the following person. A head of household with a taxable income of $53,000 and a $6000 tax credit. The tax owed is $_

Expert Solution

Step 1

Please find the answer in next step. I have also included a table of tax rate of year 2016 from Wikipedia.

Step by step

Solved in 3 steps with 2 images

SEE SOLUTION Check out a sample Q&A here

Similar questions

2. Which of the following are monthly fixed expenses? a. rent, mortgage, electricity costs b. rent, mortgage, groceries C. rent, mortgage, fuel costs d. rent, mortgage, property taxes
A shopkeeper sells an article at its marked price OMR 7500 and charges sales-tax at the rate of 12% from the customer. If the shopkeeper pays a VAT of OMR 180, the input tax is ____________. a. RO 620 b. RO 920 c. RO 720 d. RO 900
thank you
Calculate the amount of money you'll have at the end of the indicated time period, assuming that you earn simple interest. You deposit $3100 in an account with an annual interest of 4.7% for 20 years. The amount of money you'll have at the end of 20 years is $ (Type an integer or a decimal.)
Based on the federal tax chart what are the taxes owed in the following situation Taxable income $45,000
Felicia is an unmarried college student with no dependents.Last year,she made $17,000 working parttime as a teacher aide.Each year she files taxes as Single, takes a standard deduction of $5700,and claims only herself as an exemption for $3650.Based on this information,what tax bracket does Felicia fall into?
Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7% toward the purchase of a car. Find the monthly payments and the total interest for the loan. A.$281; $13,488 B.$239; $1472 C.$624; $19,952 D.$239; $11,472
None
Exemptions may include Select one: O a. taxable income including all deductions. O b. those in an employee's family who are dependents. hit O c. taxable income less all deductions. O d. those in an employee's family who are not dependents.
A surface mount PCB placement/soldering line is to be installed for $1.300,000. It will have a salvage value of $90,000 after 5 years. Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life. Click here to access the MACRS-GDS Table Calculator Part a Determine the depreciation deduction and the resulting unrecovered investment during each year of the asset's life using double declining balance depreciation. EOY 0 1 ~ 3 + 2 5 Sum depreciation Depreciation Balance 20
Year Quarter Revenue 2005 Qtr1 5,196 Qtr2 6,300 Qtr3 6,027 Qtr4 5,541 2006 Qtr1 5,109 Qtr2 6,455 Qtr3 6,402 Qtr4 5,895 2007 Qtr1 6,065 Qtr2 7,695 Qtr3 7,652 Qtr4 7,293 2008 Qtr1 7,360 Qtr2 9,035 Qtr3 8,299 Qtr4 7,015 2009 Qtr1 7,130 Qtr2 8,212 Qtr3 8,015 Qtr4 7,468 2010 Qtr1 7,700 Qtr2 8,655 Qtr3 8,407 Qtr4 10,475 Quarter 2005 2006 2007 2008 2009 2010 Qtr1 5,196 5,109 6,065 7,360 7,130 7,700 Qtr2 6,300 6,455 7,695 9,035 8,212 8,655 Qtr3 6,027 6,402 7,652 8,299 8,015 8,407 Qtr4 5,541 5,895 7,293 7,015 7,468 10,475 (b) State the model found when performing a regression using seasonal binaries. (A negative value should be indicated by a minus sign. Round your answers to 4 decimal places.) yt = + t + Q1 + Q2 + Q3 (c) Use the regression equation to make a prediction for each quarter in 2011. (Enter your answers in millions rounded to 3 decimal places.) Quarter Predicted Q1 Q2…