Suppose that the lowest three tax brackets for U.S. personal income tax are as shown: Income...

Question:

Suppose that the lowest three tax brackets for U.S. personal income tax are as shown:

 Income Marginal Tax Rate 0-20,000 10% 20,001-50,000 20% 50,001-90,000 30%

If someone's income is $60,000, then what is that person's tax bill?  A.$11,000 B. $18,000 C.$12,000 D. \$20,000

Similar Solved Questions

(25 pts) Mass balance continuity equation: Two imm tank, and fill the tank completely, as shown...
(25 pts) Mass balance continuity equation: Two imm tank, and fill the tank completely, as shown in Figure 1 below. The the tank has a specific gravity (SG) of 1.15, while the liquid at the top oft of o.75. If the velocity of the heavier liquid entering the bottom port orn meter/sec, then what is the...
Use the tables to calculate the coefficient to variation of the risk-return relationship of the bond...
use the tables to calculate the coefficient to variation of the risk-return relationship of the bond market during each decade since 1950. (round your answer to 2 decimals). Table 9.2 Average Retuns for Bonds 0.0% 1950 to 1959 Average 1960 to 1969 Average 1970 to 1979 Average54 1980 to 1989 Average1...
Will the price level always rise when AD increases? Take time to review a graph of...
Will the price level always rise when AD increases? Take time to review a graph of a macro equilibrium to get a good visual, before answering this question. Explain your answer and provide your rationale. 50 or more words....
A client is receiving theophyline. The nurse checks the clients serum theophyline level and finds 1...
A client is receiving theophyline. The nurse checks the clients serum theophyline level and finds 1 to be les tan terase. The rue reviews the client's medical record, noting that which of the folowing might be a reason for this? A Amoxicillin B Phenytoin C Verapami D. Alopurinol...
Why are high heats of vaporization usually associated with high boiling temperature?
Why are high heats of vaporization usually associated with high boiling temperature?...
2-4. not partial please Problem 3 An unknown substance shows a molècular ion peak at m/z=...
2-4. not partial please Problem 3 An unknown substance shows a molècular ion peak at m/z= 170 with a relative intensity of 100. The M+ 1 peak has an intensity of 13.2, and the M+2 peak has an intensity of 1.00. What is the molecular formula of the unknown? Can you propose a structure? Problem...
The following are budgeted data: Sales in units Production in units January 15,600 18,60e February 21,200...
The following are budgeted data: Sales in units Production in units January 15,600 18,60e February 21,200 19,600 March 18,600 17,500 One pound of material is required for each finished unit. The inventory of materials at the end of each month should equal 20% of the following month's production ...
THIS IS BASED ON 5 YEAR DEPRECIATION. 2. In plain English, explain how depreciation was calculated...
THIS IS BASED ON 5 YEAR DEPRECIATION. 2. In plain English, explain how depreciation was calculated for years 1-3. 3)In plain English, explain how depreciation was calculating for years 4-6 Table A-1. 3-, 5-, 7-, 10-, 15-, and 20-Year Property Half-Year Convention Depreciation rate for recovery perio...
Look at your data and find the mean membrane potential value that you obtained from muscle...
Look at your data and find the mean membrane potential value that you obtained from muscle fibers bathed is a solution with a sodium concentration of 200 mEq/L - this is the concentration in normal crayfish saline. If threshold is 15 to 20 mV more depolarized than this value, what would have to happ...
4. Determine the cross section area using coordinate method only. Consider the coordinate of centreline of...
4. Determine the cross section area using coordinate method only. Consider the coordinate of centreline of the road to be (0,0) (15 marks) Both side slopes are 1:1 Centerline height 4m 2m 1m Road width 8m...
Question 14 pts Getting the work done by some other firm at lower costs, when the...
Question 14 pts Getting the work done by some other firm at lower costs, when the firm is situated in some other country, is called outsourcing. True False Flag this Question Question 24 pts A compensating wage differential is a wage difference attributable to the difference in the mar...
3. (a) Assume that 73% of American men favour a law that requires a police permit to buy a gun. A...
3. (a) Assume that 73% of American men favour a law that requires a police permit to buy a gun. A sample of 150 American men are randomly selected. Let P denote the proportion of this sample that are in favour of this law. (i) Explain why P is an unbiased and consistent estimator of π, the popula...
Problem C5-45 continue or not? How to separate fixed from variable overhead cost
Problem C5-45 continue or not? How to separate fixed from variable overhead cost...
Question 1 For each of the four vertical curves show in the attachment (click here for attachment...
ATTACHMENTS: Question 1 For each of the four vertical curves show in the attachment (click here for attachment) calculate the following: 1. K and r 2. station of BVC and EVC 3. elevation of point at a distance, L/4, from BVC and EVC 4. station of turning point 5. elevation of turning point 6. eleva...