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AGummiBear55
Kara has a taxable income of $254,129. What is his tax liability if $41,827.25 plus 33% of the amount over $171,850?
The amount over $171,850 is simply the taxable income - $171,850. Multiply that by 33% and add to the $41,827.25
I got 98537.75, but that's not in my answer choices. My choices are: $27,152.07 $68,979.32 $83,862.57 $125,689.82 ?? :/
I got one of those answers :-) What did you get for 33% of the amount over 171,850?
hm... lemme see real quick.
I got 562584.82 ???
Okay, what do you get for the amount over 171,850?
I'm so confused, what? :( Sorry.
Okay, the tax is $41,827.25 + 33% of the amount over $171,850. You could write this as \[Tax = $41,827.25 + 0.33(Income-$171,850)\] because 33% is simply 33/100 or 0.33. Income was $254,129. Punch $254,129 into your calculator and subtract $171,850 to get the amount over $171,850. Multiply that number by 0.33. Add $41,827.25. The result is your final answer.