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AssignmentMultiple Choice

Tax Returns

Question 1 • FL-2102373-Personal Finance and Money Management Honors

Stacia contributes $168 in federal taxes and the contribution to state taxes is 12% of their contribution to federal taxes. Determine the amount Stacia will contribute to state taxes.

Answer
A
$2,016
B
$2.02
C
$20.16
D
$14

Explanation

The state tax contribution is 12% of the federal tax contribution, so calculate 0.12 × $168 = $20.16. Therefore, Stacia will contribute $20.16 to state taxes, which is choice C.

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