Tyrone has $45,000 in income. The marginal tax rates are 15% on the first $20,000 and 25% on everything above $20,000. Assuming that Tyrone has no tax deductions, how much does he pay in taxes?

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The Answer of Tyrone has $45,000 in income. The marginal tax rates are 15% on the first $20,000 and 25% on everything above $20,000. Assuming that Tyrone has no tax deductions, how much does he pay in taxes?

Tyrone Has $45,000 in Income