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

-Refer to the table above.Bob says that the next dollar he earns will be taxed 50 percent more heavily than the previous dollar he earned.How much has Bob earned so far in the year?

Question

The table below shows the tax brackets for different income groups in a country:
 
-Refer to the table above.Bob says that the next dollar he earns will be taxed 50 percent more heavily than the previous dollar he earned.How much has Bob earned so far in the year?

Quizplus · Accepted Answer

Bob says that the next dollar he earns will be taxed 50 percent more heavily than the previous dollar he earned. This means that the next dollar he earns will be in the 25% tax bracket. The only row in the table that shows a 25% tax rate is row 4, which corresponds to taxable income between $40,200 and $98,000. Therefore, Bob has earned between $40,200 and $98,000 so far in the year.

The Table Below Shows the Tax Brackets for Different Income