Concept explainers
Federal income tax The following table shows part of a tax rate schedule for single filers. Use this schedule and create a table of values that could be used to find the following limits, if they exist. Let x represent the amount of taxable income and let T(x) represent the tax due.
(a)
(b)
(c)
Single Filers
If taxable income is over— | But notover— | The tax is: |
$0 | $9075 |
|
$9075 | $36,900 | $907.50 plus
|
$36,900 | $89,350 | $5081.25 plus
|
$89,350 | $186,350 | $18,193.75 plus
|
Source: Internal Revenue Service
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Chapter 9 Solutions
MATHEMATICAL APPL F/MGMT LIFE (LL) FDS
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