In the last lesson of this unit, we'll study tax brackets. The short version is that if you make more money, you pay a higher percentage of your income in taxes. That's why the percentage of deductions varied for each individual we've studied in this lesson. If you have a job making \( \$ 36,610 \), this puts you in the \( 15 \% \) federal tax bracket, and combining state and local taxes, you might end up having \( 20 \% \) deducted. You then get a raise to \( \$ 38,800 \), which moves you up a bracket, and now \( 24 \% \) gets deducted. Part: \( 0 / 2 \) Part 1 of 2 (a) How much would you pay in taxes and how much would you have left before you got a raise? Before getting a raise, you would pay \( \$ \square \) in taxes and have \( \$ \)

To determine how much you would pay in taxes and how much you would have left before receiving a raise, follow these steps: ### Given: - **Annual Income:** \$36,610 - **Total Tax Deduction Percentage:** 20% ### (a) Calculate Taxes and Take-Home Pay Before the Raise 1. **Calculate the Total Taxes Paid:** The total amount deducted for taxes is 20% of your annual income. \[ \text{Taxes} = 20\% \times \$36,610 = 0.20 \times \$36,610 = \$7,322 \] 2. **Calculate the Take-Home Pay:** Subtract the total taxes paid from your annual income to find out how much you keep. \[ \text{Take-Home Pay} = \$36,610 - \$7,322 = \$29,288 \] ### **Summary:** - **Taxes Paid:** \$7,322 - **Take-Home Pay:** \$29,288 So, **before getting a raise**, you would pay **\$7,322** in taxes and have **\$29,288** left.