Answer :
To determine the amount of tax owed on the portion of income falling within the 25% tax bracket, we need to perform the following calculations:
1. Identify the taxpayer's income: [tex]$50,000. 2. Identify the tax bracket percentage: 25%. Next, we calculate the tax owed by multiplying the income by the tax bracket percentage. Here's a step-by-step process: 1. Convert the percentage to a decimal: 25% = 0.25 2. Multiply the income by the decimal equivalent of the tax bracket: \[ \text{Tax owed} = \text{income} \times \text{tax bracket} \] \[ \text{Tax owed} = 50000 \times 0.25 \] 3. Calculate the result: \[ \text{Tax owed} = 12500 \] So the tax owed is $[/tex]12,500.
Therefore, the correct answer is:
c) $12,500
1. Identify the taxpayer's income: [tex]$50,000. 2. Identify the tax bracket percentage: 25%. Next, we calculate the tax owed by multiplying the income by the tax bracket percentage. Here's a step-by-step process: 1. Convert the percentage to a decimal: 25% = 0.25 2. Multiply the income by the decimal equivalent of the tax bracket: \[ \text{Tax owed} = \text{income} \times \text{tax bracket} \] \[ \text{Tax owed} = 50000 \times 0.25 \] 3. Calculate the result: \[ \text{Tax owed} = 12500 \] So the tax owed is $[/tex]12,500.
Therefore, the correct answer is:
c) $12,500
