Jean Paul wondered what his tax liability would be for the following taxable incomes: ...
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Accounting
Jean Paul wondered what his tax liability would be for the following taxable incomes:
| Bracket | Tax Rate | |
| $0 - $10,000 | 15% | |
| $10,000 - $50,000 | 25% | |
| $50,000 - $250,000 | 30% | |
| over $250,000 | 35% |
Compute the tax liability for each of the following taxable income amounts. Round the answers to 2 decimal places.
Taxable income of $49,000
Taxable income of $150,000
Taxable income of $450,000
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