Caden's taxable income is $75,000 What is the amount of tax Caden owes for the taxable income between $11,001 and $44,725 if he is filing as a single filer? The tax rates for his income are shown in the table.
Answer
A
3 dollars comma 372 point 4 0
B
7 dollars comma 419 point 2 8
C
4 dollars comma 472 point 5 0
D
4 dollars comma 047 point 0 0
Explanation
The income in this bracket is $44,725 − $11,000 = $33,725. At the 12% rate for this bracket, the tax is $33,725 × 0.12 = $4,047.00, so the correct choice is $4,047.00.
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