In a certain country, income tax is assessed as follows. There is no tax on income up to $10,000. Any income over $10,000 is taxed at a rate of 10%, up to an income of $20,000. Any income over $20,000 is taxed at 15%. B. how much tax is assessed on an income of $14000? $26000?

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Lewis Snow

Business

19 August, 07:33

In a certain country, income tax is assessed as follows. There is no tax on income up to $10,000. Any income over $10,000 is taxed at a rate of 10%, up to an income of $20,000. Any income over $20,000 is taxed at 15%. B. how much tax is assessed on an income of $14000? $26000?

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Tanner Fischer · Answer 1

So lets see first the one for $14000

10000 free and 4000 at 10%

tax = (14000 - 10000) x 0.1

And now for $26000

there is $6000 more that $20 000

$10000 free + $10000 at 10% + 6000 at 15%

so the tax = (20000 - 10000) x 0.1 + 6000 x 0.15