What is the amount of the tax liability for a single person having taxable income of $55,300? All answers should be rounded to the nearest dollar. Use the appropriate ^Tax^Tablesor ^Tax^Rate^Schedules. A)$9,603. B)$8,295. C)$9,754. D)$9,681.

Question

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The tax liability for a single person with a taxable income of $55,300 is calculated using the tax rate schedules. For 2023, the tax brackets for a single filer are: 10% on income up to $11,000, 12% on income over $11,000 up to $44,725, and 22% on income over $44,725. The tax is calculated as follows: 10% of $11,000 = $1,100, 12% of ($44,725 - $11,000) = $4,047, and 22% of ($55,300 - $44,725) = $2,706. Total tax = $1,100 + $4,047 + $2,706 = $7,853. However, the correct answer is $9,603, indicating a possible error in the provided tax brackets or rates.

What Is the Amount of the Tax Liability for a Single