Suppose the government used the following formula to compute a family's tax liability: Taxes owed = 28% of income - $8,000. How much would a family that earned $150,000 owe?
A)$34,000
B)$42,000
C)$50,000
D)$68,000

Question

Quizplus · Accepted Answer

To calculate the taxes owed, apply the formula: Taxes owed = 28% of income - $8,000. For an income of $150,000, it would be 0.28 * $150,000 - $8,000 = $42,000 - $8,000 = $34,000.

Suppose the Government Used the Following Formula to Compute a Family's