Which of the following is the solution for income tax deducted on earnings of $1,000 with a tax rate of 24%?pick one answer Responses $240 $240 $760 $760 $24 $24 $976

Answer 1

To calculate the income tax deducted on earnings of $1,000 with a tax rate of 24%, you can use the following formula:

Tax Deducted = Earnings × Tax Rate

Tax Deducted = $1,000 × 0.24 = $240

Therefore, the income tax deducted is $240.

To find the net earnings after tax:

Net Earnings = Earnings - Tax Deducted Net Earnings = $1,000 - $240 = $760

So the correct answers are:

• Income tax deducted: $240
• Net earnings after tax: $760

If you need to select just one response for "the solution for income tax deducted," it would be $240.