Question 28 • Financial Math
At an income of $100,000, the tax accumulated under the lower brackets is $13,000: the tax at $50,000 is $3,000, and the next $50,000 is taxed at 20%, adding $10,000. For income above $100,000, the additional income is taxed at 30%, so T(x) = 13,000 + 0.30(x − 100,000).
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