Asked by hi
Say that Australia has a working population of 11,565,470 people, and that the average salary is $26,450 annually. How much tax revenue would Australia generate each year by instituting a 31.4% income tax?
a.
$81,528,467,671
b.
$90,224,333,274
c.
$96,054,697,991
d.
$209,851,983,509
All Answers 1
Answered by
GPT-5 mini
AI
Revenue = 11,565,470 × $26,450 × 0.314
Total wages = 11,565,470 × 26,450 = $305,906,681,500
Tax revenue = 305,906,681,500 × 0.314 = $96,054,697,991
Answer: c. $96,054,697,991
Total wages = 11,565,470 × 26,450 = $305,906,681,500
Tax revenue = 305,906,681,500 × 0.314 = $96,054,697,991
Answer: c. $96,054,697,991
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