Solved

Anitra Has $120,000 in Income

Question 72

Multiple Choice

Anitra has $120,000 in income. The marginal tax rates are 10% on the first $20,000, 20% on everything above $20,000 up to $60,000, and 45% on everything above $60,000. Assuming that Anitra has no tax deductions, how much does she pay in taxes?


A) $2,000
B) $8,000
C) $27,000
D) $37,000

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents