Question

Which of the following is the solution for income tax deducted on earnings of $1,000 with a tax rate of 24%?(1 point)
Responses

$760
$760

$976
$976

$24
$24

$240

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:

Income Tax = Earnings × Tax Rate

In this case:

Income Tax = $1,000 × 0.24 = $240

Therefore, the solution for income tax deducted is **$240**.