Using the tax table, determine the amount of taxes for the following situations: (Do not roundintermediate calculations. Round your answers to 2 decimal places.) a. A head of householdwith taxable income of $59,500. b. A single person with taxable income of $36,800. c.Married taxpayers filing jointly with taxable income of $72,900. Rate on TaxableIncome10%12%22%24%32%35%37%Single TaxpayersUp to $9,875$9,876-$40, 125$40,126-$85,525$85,526-$163,300$163,301-$207,350$207,351-$518,400Over $518,401Married Taxpayers FilingJointlyUp to $19,750$19,751-$80, 250$80, 251-$171,050$171,051-$326,600$326,601-$414,700$414,701-$622,050Over $622,051Heads of HouseholdUp to $14,100$14, 101-$53,700$53,701-$85,500$85,501-$163,300$163,301-$207,350$207,351-$518,400Over $518,401

Taxes amount refers to a compulsory expense charged by the government on the income earned during…

Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $59,500. b. A single person with taxable income of $36,800. c. Married taxpayers filing jointly with taxable income of $72,900.

Using the tax table, determine the amount of taxes for the following situations: (Do not round intermediate calculations. Round your answers to 2 decimal places.) a. A head of household with taxable income of $59,500. b. A single person with taxable income of $36,800. c. Married taxpayers filing jointly with taxable income of $72,900.

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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1
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am. 136.
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