To determine how much Julie will pay in income tax this year considering her taxable income is \[tex]$50,000 and using the provided tax brackets, we'll compute her taxes based on each bracket step-by-step.
1. From \$[/tex]0 to \[tex]$9,225 (10%):
- The first \$[/tex]9,225 of Julie's income is taxed at 10%.
- Tax for this portion = \[tex]$9,225 * 10% = \$[/tex]922.50
2. From \[tex]$9,226 to \$[/tex]37,450 (15%):
- The next portion of her income, from \[tex]$9,226 to \$[/tex]37,450, is taxed at 15%.
- Income in this bracket = \[tex]$37,450 - \$[/tex]9,225 = \[tex]$28,225
- Tax for this portion = \$[/tex]28,225 * 15% = \[tex]$4,233.75
3. From \$[/tex]37,451 to \[tex]$50,000 (25%):
- The remaining portion of her income, from \$[/tex]37,451 to \[tex]$50,000, is taxed at 25%.
- Income in this bracket = \$[/tex]50,000 - \[tex]$37,450 = \$[/tex]12,550
- Tax for this portion = \[tex]$12,550 * 25% = \$[/tex]3,137.50
To find the total tax Julie will pay, we sum up the taxes from all the brackets:
[tex]\[ \$922.50 + \$4,233.75 + \$3,137.50 = \$8,293.75 \][/tex]
So, Julie will pay \[tex]$8,293.75 in income tax this year.
The correct answer is:
B. \$[/tex]8,293.75
