Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income: For the first $150,000 of income, every dollar is taxed at a rate of 10% . $150,000 is taxed at a rate of 22% for up to $225,000 of income. Each additional dollar over Each additional dollar over $225,000 is taxed at a rate of 31% for up to $475,000 of income. Every dollar over $475,000 is taxed at a rate of 47% . (a) Find a piecewise-defined function I that specifies the yearly federal income tax for a person earning X dollars per year.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income:
For the first $150,000 of income, every dollar is taxed at a rate of 10% .
Each additional dollar over
$150,000 is taxed at a rate of 22% for up to $225,000 of income.
Each additional dollar over
$225,000 is taxed at a rate of 31% for up to $475,000 of income.
$475,000 is taxed at a rate of
47% .
Every dollar over
(a) Find a piecewise-defined function 1 that specifies the yearly federal income tax for a person earning X dollars per year.
if
if
if
if x
0.1x
150000
0.22x-18000
150000
225000
T(x) =
The submission, 0.31x-5250, is incorrect.
225000
475000
The submission, 0.47x-81250, is incorrect.
475000
Transcribed Image Text:Below is a proposed alternative to the current federal income tax system based on a taxpayer's annual income: For the first $150,000 of income, every dollar is taxed at a rate of 10% . Each additional dollar over $150,000 is taxed at a rate of 22% for up to $225,000 of income. Each additional dollar over $225,000 is taxed at a rate of 31% for up to $475,000 of income. $475,000 is taxed at a rate of 47% . Every dollar over (a) Find a piecewise-defined function 1 that specifies the yearly federal income tax for a person earning X dollars per year. if if if if x 0.1x 150000 0.22x-18000 150000 225000 T(x) = The submission, 0.31x-5250, is incorrect. 225000 475000 The submission, 0.47x-81250, is incorrect. 475000
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ISBN:
9780998625720
Author:
Lynn Marecek
Publisher:
OpenStax College