Simplified Marginal Tax RatesTax up toBeginningof rangeEnd ofMarginalstart ofrangeraterange12,00020,00048,00095,000to0%12,00020,00048,000to15%1,2007,36021,46042,660to22%to30%40%148,000210,00095,000to148,000210,000to45%andabove70,56050%Sasha has annual gross income of $76,000 and works as a lawyer. What is the maximum disabilityinsurance coverage she can get, if she can qualify for 90% of her after tax income? (Use the tax tableabove and input the number only, to the nearest dollar.)Answer:Next page

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What is the maximum disability

Financial Reporting, Financial Statement Analysis and Valuation

8th Edition

ISBN:9781285190907

Author:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Publisher:James M. Wahlen, Stephen P. Baginski, Mark Bradshaw

Chapter4: Profitability Analysis

Section: Chapter Questions

Problem 23PC

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Concept explainers

Health, Disability and Long-Term Care Insurance

Leading a healthy life is very important for every human being, be it a child, an adult, or an elderly person. Our lifestyle and health go hand in hand and any discrepancy in one of these will adversely affect the other. As we grow older, our body functions start getting impaired, and slowly disabilities start appearing.

Question

100%

Simplified Marginal Tax Rates
Tax up to
Beginning
of range
End of
Marginal
start of
range
rate
range
12,000
20,000
48,000
95,000
to
0%
12,000
20,000
48,000
to
15%
1,200
7,360
21,460
42,660
to
22%
to
30%
40%
148,000
210,000
95,000
to
148,000
210,000
to
45%
and
above
70,560
50%
Sasha has annual gross income of $76,000 and works as a lawyer. What is the maximum disability
insurance coverage she can get, if she can qualify for 90% of her after tax income? (Use the tax table
above and input the number only, to the nearest dollar.)
Answer:
Next page

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