18. SPACE Which unit of measure is the hlUst u Earth to the star Polaris: feet, kilometers, light-yea piar 19 FINANCIAL LITERACY The Internal Revenue Service (IRS) of the U.S. government uses formulas to assess income tax for individuals. They provide tax-rate guidelines that include metrics. For example, for the 2015 tax year, a single person earning over $9,225 but less than $37,450 is expected to owe income tax using the following metric: Tax = 922.50 + 0.15(x – 9225), where x is the amount of taxable income. a. Use this metric to find the income tax for a single person earning $20,000 of taxab income. b. Use the Internet to research another IRS metric. Describe your findings.
18. SPACE Which unit of measure is the hlUst u Earth to the star Polaris: feet, kilometers, light-yea piar 19 FINANCIAL LITERACY The Internal Revenue Service (IRS) of the U.S. government uses formulas to assess income tax for individuals. They provide tax-rate guidelines that include metrics. For example, for the 2015 tax year, a single person earning over $9,225 but less than $37,450 is expected to owe income tax using the following metric: Tax = 922.50 + 0.15(x – 9225), where x is the amount of taxable income. a. Use this metric to find the income tax for a single person earning $20,000 of taxab income. b. Use the Internet to research another IRS metric. Describe your findings.
Chapter3: Computing The Tax
Section: Chapter Questions
Problem 3RP
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