Answer:
$2,042.50
Explanation:
Tax liability will be calculated as follows
The tax on the first 3000 will be at 2%
=3000x 0.02= $60
Tax on next 2000 at 3%
=2000x 0.03= $60
Tax on the next 12,000 at 5%
=12,000 x 0.05=$600
Tax on the final 23,000 at 5.75%
=23,000 x 0.0575 = $1,322.50
Total tax liability will be $60 +$60 + $600 + $1,322.50=$2,042.50
=$2,042.50
