Pregunta
Kala made \( \$ 40,000 \) in taxable income last year. Suppose the income tax rate is \( 10 \% \) for the first \( \$ 7000 \) plus \( 16 \% \) for the amount over \( \$ 7000 \). How much must Kala pay in income tax for last year?
Ask by Garza Knight. in the United States
Feb 03,2025
Solución de tutoría real
Respuesta verificada por el tutor
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Kala must pay \$5,980 in income tax for last year.
Solución
To calculate Kala's income tax for last year, we'll break down the tax based on the given rates:
1. **First \( \$7,000 \) at 10%:**
\[
10\% \times \$7,000 = 0.10 \times \$7,000 = \$700
\]
2. **Remaining income at 16%:**
\[
\$40,000 - \$7,000 = \$33,000
\]
\[
16\% \times \$33,000 = 0.16 \times \$33,000 = \$5,280
\]
3. **Total Income Tax:**
\[
\$700 + \$5,280 = \$5,980
\]
**Kala must pay a total of \$5,980 in income tax for last year.**
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Simplifique esta solución Beyond the Answer
To calculate Kala's income tax, we’ll break it down based on the tax rates. First, for the initial \( \$ 7000 \), the tax is \( 10\% \): \[ \text{Tax on } \$ 7000 = 7000 \times 0.10 = \$ 700 \] Next, we find the income over \( \$ 7000 \). Kala's total income is \( \$ 40,000 \), so: \[ \text{Income over } \$ 7000 = 40,000 - 7,000 = 33,000 \] Now, we calculate the tax on this amount at the \( 16\% \) rate: \[ \text{Tax on } \$ 33,000 = 33,000 \times 0.16 = 5,280 \] Finally, we sum both tax amounts to find the total income tax owed: \[ \text{Total Tax} = 700 + 5,280 = \$ 5,980 \] Thus, Kala must pay \( \$ 5,980 \) in income tax for last year.
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