Author Question: Tax Base and Tax StructureThe table shows income tax brackets for the country of Ficta.Income Tax ... (Read 221 times)

effaey · **on:** Nov 23, 2022

Tax Base and Tax Structure

The table shows income tax brackets for the country of Ficta.

Income Tax Brackets	Tax Rate
$0-$10,000	7%
$10,001-$40,000	12%
$40,001-$85,000	20%
$85,001-$160,000	28%
$160,001-$205,000	36%
$205,001-$510,000	39%
Over $510,000	45%

Assume that all residents of Ficta have no exemptions or deductions from their incomes.
Suppose Lucia makes $90,000 a year, how much is her tax payment? Suppose Benicio makes $45,000 a year, how much is his tax payment?
Please round your final answer to two decimal places.
◦ $34,300.00, $13,300.00
◦ $47,700.00, $5,500.80
◦ $25,200.00, $9,000.00
◦ $14,700.00, $5,300.00

kyledifference · **Reply #1 on:** Nov 23, 2022

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