The table below shows the tax brackets for different income groups in a country:

-Refer to the table above.If Beth earns $60,000 per year,she has to pay a tax of ________.

Question

The table below shows the tax brackets for different income groups in a country:
 
-Refer to the table above.If Beth earns $60,000 per year,she has to pay a tax of ________.

Quizplus · Accepted Answer

Based on the table, we can determine that Beth falls under the income group that has a tax bracket of 24%. To calculate her tax, we need to multiply her income by the tax rate:

$60,000 x 0.24 = $14,400

However, this is not the final tax amount because we need to add the fixed tax amount for the income group she is in. From the table, we can see that her income group has a fixed tax amount of $1,065.

So the total tax that Beth needs to pay is:

$14,400 + $1,065 = $15,465

Therefore, the closest answer is A) $9,465.05

The Table Below Shows the Tax Brackets for Different Income