I also need help answering the following questions. can I please help step-by-step ...
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Accounting
I also need help answering the following questions. can I please help step-by-step
1. Your filing status is single. Based only on the information in Table 6.1, a) If your taxable income is $140,000, what would your federal income tax obligation be? b) If your taxable income is $70,000, what would your federal income tax obligation be? c) If your federal income tax obligation is $50,000, what was your taxable income? Taxable income is greater than (5) Taxable income is less than (S) Your tax rate 0 9,875 10% 9,876 40,125 12% 40,126 85,525 22% 85,526 163,300 24% 163,301 207,350 32% 207,351 518,400 35% 518,401 37% 3. You earn a salary of $105,000 from your current employer and have taxable income of $80,000. You have gotten a job offer from a rival company, offering to pay you $120,000. Using the tax brackets in Table 6.1 and assuming all else stays the same, a) What will be your federal income tax obligation if you take the new job? b) What will be your new income, after taxes? c) What is you increase in after-tax income, with the new job
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