Use the table below to calculate the tax owed. Round to the nearest cent. A single man with a taxable income of $32,000 and a $1,000 tax credit. Tax Rate Single 10% 15% 25% 28% up to $9275 $9276 to $37,650 $37,651 to $91,150 $91,151 to Married Filing Separately up to $9275 $9276 to $37,650 $37,651 to $75.,950 $76,951 to Married Filing Jointly up to $13,550 $18,551 to $75,300 $75,301 to $151,900 $151,901 to Head of Household up to $13,250 $13,251 to $50,400 $50,401 to $130,150 $130,151 to

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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Use the table below to calculate the tax owed. Round to the nearest cent.
single man with a taxable income of $32,000 and a $1,000 tax credit.
Single
Tax Rate
10%
15%
25%
28%
up to $9275
$9276 to
$37,650
$37,651 to
$91,150
A. $4,650.00
OB. $3,336.25
OC. $4,336.25
D. $2,247.50
$91,151 to
+1nn 1CA
Married Filing
Separately
up to $9275
$9276 to
$37,650
$37,651 to
$75.,950
$76,951 to
(11C 75C
Married Filing
Jointly
up to $13,550
$18,551 to
$75,300
$75,301 to
$151,900
$151,901 to
0001 CA
Head of
Household
up to $13,250
$13,251 to
$50,400
$50,401 to
$130,150
$130,151 to
10 onn
Calculate the tax owed by a single man with a taxable income of $32,000 and a $1,000 tax credit.
Transcribed Image Text:Use the table below to calculate the tax owed. Round to the nearest cent. single man with a taxable income of $32,000 and a $1,000 tax credit. Single Tax Rate 10% 15% 25% 28% up to $9275 $9276 to $37,650 $37,651 to $91,150 A. $4,650.00 OB. $3,336.25 OC. $4,336.25 D. $2,247.50 $91,151 to +1nn 1CA Married Filing Separately up to $9275 $9276 to $37,650 $37,651 to $75.,950 $76,951 to (11C 75C Married Filing Jointly up to $13,550 $18,551 to $75,300 $75,301 to $151,900 $151,901 to 0001 CA Head of Household up to $13,250 $13,251 to $50,400 $50,401 to $130,150 $130,151 to 10 onn Calculate the tax owed by a single man with a taxable income of $32,000 and a $1,000 tax credit.
33%
35%
39.6%
Standard
Deduction
$190,151 to
$413,350
$413,351 to
$415,050
more than
$415,050
$6300
Exemptions $4050
(per person)
$115,726 to
$206,675
$206,676to
$233,475
more than
$233,475
$6300
$4050
$231,451 to
$413,350
$413,351 to
$466,950
more than
$466,950
$12,600
$4050
$210,801 to
$413,350
$413,351 to
$441,000
more than
$441,000
$9300
$4050
Transcribed Image Text:33% 35% 39.6% Standard Deduction $190,151 to $413,350 $413,351 to $415,050 more than $415,050 $6300 Exemptions $4050 (per person) $115,726 to $206,675 $206,676to $233,475 more than $233,475 $6300 $4050 $231,451 to $413,350 $413,351 to $466,950 more than $466,950 $12,600 $4050 $210,801 to $413,350 $413,351 to $441,000 more than $441,000 $9300 $4050
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