You have the opportunity to earn some extra income by working at $28 per hour.If your marginal tax rate is 32%, how much of the hourly income will you take home after taxes? Round your answer to two decimal places, if necessary.
A) $28
B) $32
C) $19.04
D) $8.96

Question

You have the opportunity to earn some extra income by working at $28 per hour.If your marginal tax rate is 32%, how much of the hourly income will you take home after taxes? Round your answer to two decimal places, if necessary. ​
A) $28
B) $32
C) $19.04
D) $8.96

Quizplus · Accepted Answer

To calculate the take-home pay after taxes, subtract the taxes from the hourly wage. Taxes are 32% of $28, which is $28 * 0.32 = $8.96. Subtracting this from the hourly wage, $28 - $8.96 = $19.04.

You Have the Opportunity to Earn Some Extra Income by Working