The Country of Econoville Has Created a Negative Income Tax

The country of Econoville has created a negative income tax for its residents. Tax liability in the country is determined by the following equation: Taxes owed = (20% of income) ? $7,500If my income is $60,000, what is my total tax owed (a positive number) or tax credit (a negative number) ?

A) ?$16,500
B) ?$12,000
C) $4,500
D) $12,000
E) $16,500