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If the federal government used the progressive tax rate below for individual income tax, calculate the federal income tax owed on a [tex]\$57,600[/tex] salary.

[tex]\[
\begin{array}{|c|c|}
\hline \text{Standard Deduction} & \$12,200 \\
\hline \text{Income Range (\$)} & \text{Progressive Tax Rate} \\
\hline \$0 - 9,700 & 10\% \\
\hline \$9,701 - 39,475 & 12\% \\
\hline \$39,476 - 84,200 & 22\% \\
\hline \$84,201 - 160,275 & 24\% \\
\hline \$160,276+ & 32\% \\
\hline
\end{array}
\][/tex]

[tex]\[
\operatorname{Tax} = \$[?]
\][/tex]

[tex]\[\square \text{Enter}\][/tex]



Answer :

GinnyAnswer
To determine the federal income tax owed on a $57,600 salary, follow these steps considering the provided progressive tax rates and the standard deduction.

1. Calculate Taxable Income:
[tex]\[ \text{Taxable Income} = \text{Salary} - \text{Standard Deduction} \][/tex]
[tex]\[ \text{Taxable Income} = 57,600 - 12,200 = 45,400 \][/tex]

2. Apply the progressive tax rates to the taxable income:
[tex]\[ \text{Tax} = (\text{Amount taxed at 10%}) + (\text{Amount taxed at 12%}) + (\text{Amount taxed at 22%}) \][/tex]

- First tax bracket (0 to \$9,700):
[tex]\[ \text{Amount taxed at 10%} = 9,700 \times 0.10 = 970 \][/tex]

- Second tax bracket (9,701 to \$39,475):
[tex]\[ \text{Amount taxed at 12%} = (39,475 - 9,700) \times 0.12 = 29,775 \times 0.12 = 3,573 \][/tex]

- Third tax bracket (39,476 to \$45,400):
[tex]\[ \text{Amount taxed at 22%} = (45,400 - 39,475) \times 0.22 = 5,925 \times 0.22 = 1,303.5 \][/tex]

3. Add the tax from each bracket to get the total tax owed:
[tex]\[ \text{Tax} = 970 + 3,573 + 1,303.5 = 5,846.5 \][/tex]

Thus, the federal income tax owed on a [tex]$57,600 salary is $[/tex]5,846.5.

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