Mary Hernandez earned $43,000 in taxable income. She figured her tax from the single taxpayer table above.

$0 $7,825 10% of the amount over $0

$7,825 $31,850 $788 + 15% of the amount over $7,825

$31,850 $77,100 $4,386 + 25% of the amount over $31,850

$77,100 $160,850 $15,699 + 28% of the amount over $77,100

$160,850 $349,700 $39,149 + 33% of the amount over $160,850

$349,700 And Over $101,469 + 35% of the amount over $349,700

1. Find her earned income level.

2. Entered the base amount. = $

3. Found the amount over $ = $

4. Multiplied line 3 by 25% = $

5. Added Lines 2 and 4

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Helsset Helsset · Answer 1 · 2018-09-15T03:51:04+02:00

As $43000 lies between $31,850 and $77,100, so Mary's income falls in tax bracket 3.

so, the tax she has to pay: 4386 + 25% of (43000-4386)

= 4386 + 9653.5

= $14039.5

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pedrocarratore pedrocarratore · Answer 2 · 2019-11-13T03:53:11+01:00

Answer:

Taxes = $7,135.50

Step-by-step explanation:

1. Find her earned income level.

From the taxpayer table, Mary's income falls within the interval of $31,850 to $77,100

2. Enter the base amount.

For that interval, the base amount is $4,386

3. Find the amount over $31,850

Since she earns $43,000, the amount over the lower bound ($31,850) is:

$43,000 - $31,850 = $11,150

4. Multiply line 3 by 25% = $

Her tax rate for her income is 25%, multiply the value found in step by 0.25

$11,150 x 0.25 = $2,787.50

5. Add Lines 2 and 4

Finally, her total taxes are obtained by adding the base amount (step 2) to the amount found in step 4:

Taxes = $4,386 + $2,787.50= $7,135.50