Table 12-1

-Refer to Table 12-1.If Andrea has $85,000 in taxable income,her tax liability is
A) $12,750.
B) $18,170.
C) $21,250.
D) $23,800.

Question

Table 12-1
 
-Refer to Table 12-1.If Andrea has $85,000 in taxable income,her tax liability is
A) $12,750. 
B) $18,170. 
C) $21,250. 
D) $23,800.

Quizplus · Accepted Answer

Looking at Table 12-1, we can see that the tax rate for taxable income of $85,000 falls within the range of $53,601-$85,800, with a tax rate of 22%. Therefore, Andrea's tax liability would be $18,170 (0.22 x ($85,000 - $53,600) + $8,907.50).

Table 12-1 -Refer to Table 12-1.If Andrea Has $85,000 in Taxable Income,her