Question
Jack pay income tax at the rate of $35416 plus 45cent for every dollar earned in excess of $85000. Find her total taxable income if she pays $39637 in tax.
Answers
Scott
85000 + [(39637 - 35416) / .45]
Ms. Sue
39637 - 35416 = 4221
4221 / 0.45 = 9,380
85,000 + 9,380 = 94,380
4221 / 0.45 = 9,380
85,000 + 9,380 = 94,380