Paola is single and has taxable income of $94,825, which is taxed as follows: ...
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Accounting
Paola is single and has taxable income of $94,825, which is taxed as follows:
| $10,275 10% = | $ 1,027.50 |
|---|---|
| ($41,775 $10,275) 12% = | 3,780.00 |
| ($89,075 $41,775) 22% = | 10,406.00 |
| ($94,825 $89,075) 24% = | 1,380.00 |
| Total tax liability | $ 16,593.50 |
Their average tax rate is:
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