Table 12-2
Consider the tax rates shown in the table below.

-Refer to Table 12-2.If Noah has taxable income of $43,000,his tax liability is
A) $1,920.
B) $4,400.
C) $6,320.
D) $8,175.

Question

Table 12-2
Consider the tax rates shown in the table below.
 
-Refer to Table 12-2.If Noah has taxable income of $43,000,his tax liability is
A) $1,920. 
B) $4,400. 
C) $6,320. 
D) $8,175.

Quizplus · Accepted Answer

Noah's taxable income falls into the 25% tax bracket, which applies to income between $37,400 and $90,750. Therefore, his tax liability is calculated as follows: (37,400 x 0.15) + (5,600 x 0.25) = $6,320.

Table 12-2 Consider the Tax Rates Shown in the Table Below