Help please ! [WORK IS SHOWN]

$34,000–$82,400 $4,681.25 plus 25% of the amount over $34,000

Carolyn has a taxable income of $153,837. What is her tax liability?

34,000+[25%*($153,837-34,000)]

Question

Help please ! [WORK IS SHOWN]



$34,000–$82,400	$4,681.25 plus 25% of the amount over $34,000

Carolyn has a taxable income of $153,837. What is her tax liability?

34,000+[25%*($153,837-34,000)] <-- Did I set it up right  ?

phi · Answer

almost.  you don't add 34000 for the tax. it should be 4681.25

phi · Answer

although are you sure there is not another bracket  for incomes
greater than 82400 ?

anonymous · Answer

WOW @phi thank you very much !

anonymous · Answer

$82,400–$171,850	$16,781.25 plus 28% of the amount over $82,400

phi · Answer

so you should use that bracket, because the income is between those limits

anonymous · Answer

ok so it should look like .: 16,781.25 + [26% *(153,837 - 82,400)]

phi · Answer

26%  or 28% ?

anonymous · Answer

:D ohh lol 28 %

phi · Answer

in that case,  it looks good, but I would write  28%  as  0.28

anonymous · Answer

ok :D , thank you !!!