Explanation Given: Mia gross income = $185000 and Steve gross income = $185000. Formula Used: p a r t a m o u n t = w h o l e a m o u n t 100 × % . Calculations: Case 1: Marriage delay and file their tax return individual. Mia gross income is $185000, consider the standard deduction is $6100 and exemption is $3900 for single. The taxable income is $185000-$6100-$3900 =$175000. So total income tax is ( 10 % × $ 8925 ) + ( 15 % × ( $ 36250 − $ 8925 ) ) + ( 25 % × ( $ 87850 − $ 36250 ) ) + ( 28 % × ( $ 175000 − $ 87850 ) ) = $ 892.5 + $ 4098.75 + $ 12900 + $ 24402 = $ 42293.25 The Mia tax and Steve tax to pay is same $42293...

Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)

7th Edition

ISBN: 9780134715919

Author: Bennett

Publisher: PEARSON

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Chapter 4.E, Problem 61E

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Chapter 4.E, Problem 60E

Chapter 4.E, Problem 62E

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Chapter 4 Solutions

Using & Understanding Mathematics: A Quantitative Reasoning Approach (7th Edition)

Ch. 4.A - By evaluating your monthly budget, you can learn...Ch. 4.A - The two things you must keep track of in order to...Ch. 4.A - A negative monthly cash flow means that Your...Ch. 4.A - When you are making your monthly budget, what...Ch. 4.A - For the average person, the single biggest...Ch. 4.A - According to Figure 4.1, which of the following...Ch. 4.A - Which of the following in necessary if you want to...Ch. 4.A - Sandy’s automobile insurance policy has an annual...Ch. 4.A - Suppose you have a health insurance policy with an...Ch. 4.A - Thomas receives a bill for $2700 for an...

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