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As of 2015, ranches were taxed at 14 percent for income up to $44,000; at...

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Finance

As of 2015, ranches were taxed at 14 percent for income up to $44,000; at 16 percent for income ranging from $44,000 to $75,000; at 26 percent for taxable income $75,000 to $96,000; at 44 percent for income from $96,000 to $317,000, and so on. Suppose that you have revenues of $294,000 and operating expense of $62,900. How much tax is paid on the total taxable income?

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