Agnes pays state income tax equal to 3.75% of her federal taxable income. She pays federal income tax equal to 28.4% of her federal taxable income. This year, she paid $15,449.60 in federal income tax. How much did Agnes pay in state income tax? a. $573.36 b. $4,387.69 c. $1,170.04 d. $2,040.00

Respuesta :

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Answer:

Your answer would be D). $2,040.00

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Explanation:

To find the state income tax in this situation, we would need to be doing a lot of multiplying and dividing in order to get our answer.

We would use this equation:

t = px

t = Total paid

p = percentage

x = unknown

In this case, we would need to find what x is.

Let's give you the equation:

15,449.60 = 28.4x

We would need to get x by itself, so we would divide by 28.4. But first, we would need to move the decimal place from 28.4 2 times to the left, so we would be dividing by .284

[tex]\frac{15449.60}{.284} = 54,400[/tex]

Now, that;;s the federal income tax, but we have to find the state income tax. We would use 54,400 and miltiply it by 3.75 (move 2 decimal places to the left to get 0.0375).

[tex]54,400*0.0375= 2,040[/tex]

Agnes payed $2,040 in state income tax.

D). $2,040 should be your FINAL answer.

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Lanuel

Based on the calculation, the amount of money which was paid by Agnes as state income tax is equal to: D. $2,040.00.

Given the following data:

  • Percent of federal taxable income, PF = 28.4% = 0.284.
  • Percent of state income tax, PS = 3.75% = 0.0375.
  • Federal income tax, FI = $15,449.60.

How to calculate Agnes' state income tax?

In order to calculate Agnes' state income tax, we would the amount of money she paid as federal taxable income by using this mathematical expression:

FI = FT × PF

15,449.60 = FT × 0.284

FT = 15,449.60/0.284

FT = $54,400.

Now, we can calculate Agnes' state income tax:

SI = FT × PS

SI = 54,400 × 0.0375

SI = $2,040.00.

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