5. A family has $98,150 of taxable income. The top tax rate on the graph is for taxable income over $91,150. What is the tax rate for the $7,000 they earned over $91,150?

Question

Quadrant 1 of a coordinate plane shows the x axis labeled taxable income and the y axis labeled tax rate.

(1 point)
The tax rate for the $7,000 of taxable income earned over $91,150 is
%.

Answer 1

To determine the tax rate applicable to the $7,000 earned over $91,150, you would typically look at the tax brackets provided by the tax code or the graph you mentioned. Since the tax rate for taxable income over $91,150 is given, you would use that specific rate for calculating the tax on the income over that threshold.

If you have the tax rate specifically for income over $91,150 from the graph, you can directly answer the question. However, without a specific rate mentioned in your prompt, I can't provide an exact percentage.

Please refer to the graph or schedule provided to find the rate for taxable income over $91,150. Once you identify that rate, that will be the answer to your question about the tax rate for the $7,000 earned over $91,150.