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:
Verified
Q67: What is the approximate average tax rate
Q68: What is the approximate average tax rate
Q69: What is the approximate average tax rate
Q70: Tyrone has $45,000 in income. The marginal
Q71: Wendy has $32,500 in income. The marginal
Q73: A tax system where the average tax
Q74: A tax bracket is another name for
Q75: The _ tax principle implies that people
Q76: The _ tax principle implies that taxpayers
Q77: Toll roads are an example of which
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents