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Question Help Calculate the total tax (FICA and income taxes) owed by each individual in the following pair. Compare their overal tax rates. Assume that each individualis single and takes the standard deduction. Use the tax rates in the table to the right and the special rules for the dividends and capital gains. Pierre cared $128.000 in wages. Katarina earned $128.000. all from dividends and long term capital gains Tax Rate 10% 15% 5% 28 Single up to up to 37.850 Lo o 10.000 up to $1915 LO 46000 up to 400 above 35% 39.6% Standard duction emption 5418.400 For 2017, the FICA tax rates were 7.65% on the first $127.200 of income from wages and 145% on any income from wages in excess of $127.200. The tax rates for long term capital gain and dividends were for home in the tos and tax brackets, 15% for income in all higher brackets except the highest 39.6% bracket and 20% for income in the 39.6% tax bracket. An additional Medicare tax applies to payer wasted gross income above $200.000 (single or head of household) or $250,000 for married couples. Above these thresholds, the additional Medicare tax is 3.8% on most income that is not otherwise we to FICA , such as income from investments and dieds, was surcharge on ordinary income The total axwed by Pierre is (Round up to the nearest dollar

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